Question

Refer to Exhibit 4-9. If the wheat market is in competitive equilibrium, the consumers’ surplus will equal


a.
area 1 + 2 + 3

b.
area 1 + 2 + 4

c.
area 3 + 5

d.
area 1 + 2 + 3 + 4 + 5

e.
area 6

Answer 1

C