Use the following figure to answer the questions : Figure 10-4 : shows the intersection of the demand and supply curves for a commodity in the domestic market at price P 2 and quantity Q 2 ,in the absence of trade.With trade,the supply curve shifts to Supply trade .
-Refer to Figure 10-4.In the absence of trade,the total consumer surplus is given by _____.
A)a + b + c + g + f
B)a + b + c + d
C)d + b + c
D)a + b + c

Question

Use the following figure to answer the questions : Figure 10-4 : shows the intersection of the demand and supply curves for a commodity in the domestic market at price P 2 and quantity Q 2 ,in the absence of trade.With trade,the supply curve shifts to Supply trade . 
-Refer to Figure 10-4.In the absence of trade,the total consumer surplus is given by _____.
A)a + b + c + g + f 
B)a + b + c + d 
C)d + b + c 
D)a + b + c

Quizplus · Accepted Answer

In the absence of trade, consumer surplus is the area below the demand curve and above the price level, which is represented by the area a + b + c.

Use the Following Figure to Answer the Questions : Figure