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18-02-2022
Social Studies

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MICROECONOMICS: Refer to Figure 7-4. Which area represents the increase in consumer surplus when the price falls from P1 to P2?

A. BDF
B. AFG (NOT THE ANSWER)
C. ABC
D. ABDG

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MICROECONOMICS Refer to Figure 74 Which area represents the increase in consumer surplus when the price falls from P1 to P2 A BDF B AFG NOT THE ANSWER C ABC D A class=

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18-02-2022

Answer:

D. ABDG

Explanation:

earlier consumer surplus is FDB

at new price level it becomes the AFG

the increase is the gap between the two, which abdg

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