Graphically,how Is the Consumer Surplus Measured

question 39

Multiple Choice

Graphically,how is the consumer surplus measured?

• A)the area above the demand curve
• B)the area under the demand curve and above the market price
• C)the area above the supply curve and below the market price
• D)the area under the supply curve

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Definitions:

Limited Liability Company

An organizational form blending the direct tax system of a sole proprietorship or partnership with the reduced liability features of a corporation.

Cost Concept

An accounting principle that states all assets and services purchased by a company should be recorded at their cost price.

Market Value

The present rate at which a service or asset may be purchased or sold in the market.

Accounting Records

Documents and books that keep systematic financial data and transactions of a person, company, or entity.