Question

Total consumer surplus can be measured for good X by: Question 12 options: 1) the sum...

Total consumer surplus can be measured for good X by:

Question 12 options:

1)

the sum of the individual consumer surpluses for all buyers of X.

2)

the area above the demand curve for X and below the price of X.

3)

the area bounded by the demand curve for X and the two axes.

4)

the area above the supply curve for X.
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Answer #1

1)

the sum of the individual consumer surpluses for all buyers of X.

the above is answer

because buyers determine the consumer surplus

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