Refer to Figure 9.1.2 above. At price 0E and quantity Q^, consumer surplus is the area:

A) 0FCQ^.
B) AFC.
C) EFC.
D) AEC.
E) none of the above

Question

Refer to Figure 9.1.2 above. At price 0E and quantity Q * , consumer surplus is the area:A)  0FCQ * .B)  AFC.C)  EFC.D)  AEC.E)  none of the above

Louis Junique · Accepted Answer

Final Answer : C, Explanation :  Consumer surplus is the area between the demand curve and the price line up to the quantity purchased. At price 0E and quantity Q * , consumer surplus is the triangle EFC, which is the area between the demand curve S1S1 and the price line 0E up to quantity Q * . Therefore, the correct choice is C) EFC.

Refer to Figure 9.1.2 above. At price 0E and quantity Q^, consumer surplus is the area:

A) 0FCQ^.
B) AFC.
C) EFC.
D) AEC.
E) none of the above

Definitions

Learning Objectives

Learning Objectives

Related questions

Refer to Figure 9.1.2 above. At price 0E and quantity Q*, consumer surplus is the area:A) 0FCQ*.B) AFC.C) EFC.D) AEC.E) none of the above

Definitions

Learning Objectives

Learning Objectives

Related questions

Refer to Figure 9.1.2 above. At price 0E and quantity Q^, consumer surplus is the area:

A) 0FCQ^.
B) AFC.
C) EFC.
D) AEC.
E) none of the above