Figure 4-C -Refer to Figure 4-C.If the Market Price Equals P₂, Consumer

question 197

Multiple Choice

Figure 4-C
-Refer to Figure 4-C.If the market price equals P₂, consumer surplus can be identified in the diagram as area:

• A)A + B + E.
• B)B + E.
• C)A.
• D)C + D + F.
• E)C + F.

---

Definitions:

Bank Statement

A document or report provided by a bank, summarizing the transactions in a customer's account over a specific period.

Liability

An obligation of a company or individual, representing debts or financial responsibilities owed to others.

Remittance Advice

A document sent by a customer to a seller, indicating that an invoice has been paid, typically accompanying a payment.

Bank Reconciliation

The process of comparing and matching figures from the accounting records against those presented on a bank statement to ensure they are in agreement.