Which area(s) represent(s) CONSUMER SURPLUS at both P1 (associated with S1) and P2" (associated with 52). Choose ALL that apply. A different way to ask this question is: select all the areas that represent consumer surplus both before and after the supply shift from $1 to $2. P2 P1" DA CH OD OB DE DO H A B G F CD Q2 Q1* 52 51 Q

Which area(s) represent(s) CONSUMER SURPLUS at both P1 (associated with S1) and P2" (associated with 52). Choose ALL that apply. A different way to ask this question is: select all the areas that represent consumer surplus both before and after the supply shift from $1 to $2. P2 P1" DA CH OD OB DE DO H A B G F CD Q2 Q1* 52 51 Q

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter7: Market Efficiency And Welfare

Section: Chapter Questions

Problem 1P

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Which of the following statements is/are not true (I) The area below actual price and above demand curve is consumer surplus (II) The height of the surplus curve measures the consumer's willingness to pay.
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