2 years ago

Consumer surplus is represented by the area _ the demand curve and _ the price that the consumer pays.

Business

1 answer:

leonid [27]2 years ago

3 0

Answer:

under

above

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Consumer surplus = willingness to pay – price of the good

For example, if the willingness to pay for a book is $100 and the price of the book is $50.

Please check the attached image for a diagram showing consumer surplus

Consumer surplus : $100 - $50 = $50

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Consumer surplus is represented by the area _____ the demand curve and _____ the price that the consumer pays.

Consumer surplus is represented by the area _ the demand curve and _ the price that the consumer pays.