Use the following to answer question: 
-(Figure: Gain in Consumer Surplus) Look at the figure Gain in Consumer Surplus.Identify the area or areas that represent the total change in consumer surplus when the price falls from P1 to P2.
Definitions:
Marginal Cost
The increase in total cost that arises from producing an additional unit of a good or service.
Wage Rate
The amount of money paid to an employee per unit of time for labor or services rendered.
Monopolist
A monopolist is a single seller in a market who has significant control over the price and supply of a product or service.
Competitive Labor Market
A market where numerous buyers (employers) and sellers (workers) meet, with the price of labor (wages) determined by the supply of and demand for labor.
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