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Figure: Price Ceilings and Consumer Valuation
-(Figure: Price Ceilings and Consumer Valuation) Refer to the figure. Suppose a price ceiling of $3 goes into effect. If the goods sold are allocated only to the highest-value users, the total consumer surplus in the market would be:
A) $180.
B) $30.
C) $120.
D) $150.

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Use the following to answer questions:
Figure: Price Ceilings and Consumer Valuation 
-(Figure: Price Ceilings and Consumer Valuation) Refer to the figure. Suppose a price ceiling of $3 goes into effect. If the goods sold are allocated only to the highest-value users, the total consumer surplus in the market would be:
A) $180. 
B) $30. 
C) $120. 
D) $150.

Quizplus · Accepted Answer

The area of consumer surplus under the demand curve above the price ceiling and to the left of the quantity sold is $150.

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