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3 years ago

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

Business

1 answer:

leonid [27]3 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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3 years ago

Jewell-rung was a canadian corporation that imported and sold men's clothing wholesale. haddad was a new york corporation that m

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3 years ago

The inventory of Cullumber Company was destroyed by fire on March 1. From an examination of the accounting records, the followin

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Answer:

a. Merchandise lost by fire value = $20,760

b. Merchandise lost by fire value = $25,770

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= $14,970

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= $34,930

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3 years ago

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3 years ago

Carrie Tune will receive $31,000 for the next 11 years as a payment for a new song she has written. Use Appendix D for an approx

r-ruslan [8.4K]

Answer:

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Explanation:

Given that

Annual payments = $31,000

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Refer to the PVIFA table

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3 years ago

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.