The consumer surplus .

Question

In the preceding diagram, what areas represent consumers'surplus at the equilibrium price of PE ? At PC ? (Keep in mindthat the equilibrium quantity is not produced and sold at PC.)

Answer 1

Question

Chapter 4, Problem 2WNG

To determine

The consumer surplus.

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In the preceding diagram, what areas represent consumers'surplus at the equilibrium price of PE ? At PC ? (Keep in mindthat the equilibrium quantity is not produced and sold at PC.)

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Must consumers' surplus equal producers' surplus at equilibrium price? please explain