The diagram below shows supply, demand, and quantity exchanged of Monday matinee movie tickets. Assume it is a perfectly competitive market. 
FIGURE 12- 4
-Refer to Figure 12- 4. What is the value of the consumer surplus generated in this market at the allocatively efficient level of output?
Definitions:
Times Interest Earned Ratio
A financial metric that measures a company’s ability to meet its debt obligations by comparing its income before interest and taxes to its interest expenses.
Creditors
Individuals or institutions that lend money or extend credit to others, with the expectation of being paid back with interest.
Price-Earnings Ratio
The ratio for valuing a company that measures its current share price relative to its per-share earnings, widely used by investors to assess the market's valuation of a stock relative to its earnings performance.
Financial Statements
Reports that summarize the financial performance, position, and cash flows of a business for a specified period.
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