The amount by which the total benefits to consumers exceed their total expenditure is called _____, and if the price is b, is depicted by the area _____.

QUESTION POSTED AT 28/05/2020 - 11:57 PM

Answered by admin AT 28/05/2020 - 11:57 PM

The amount by which the total benefits to consumers exceed their total expenditure is called consumer surplus, and if the price is b, is depicted by the area BCD.


My response is based on this figure which I've attached. 

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