For a linear and downward sloping demand curve, when the consumer has to pay a positive price for the good, the value to the consumer is a
A)Rectangle.
B)Triangle.
C)Four-sided figure that is a rectangle on the bottom and a right triangle on the top whose hypotenuse is the demand curve.
D)Four-sided figure that is a rectangle on the bottom and a right triangle on the top whose hypotenuse is the supply curve.

Question

Quizplus · Accepted Answer

For a linear and downward sloping demand curve, the value to the consumer is equal to the area under the demand curve and above the price they pay. This area is a four-sided figure that is a rectangle on the bottom and a right triangle on the top whose hypotenuse is the demand curve.

For a Linear and Downward Sloping Demand Curve, When the Consumer