Question

On market graph,economic surplus can be identified as the area that is to the

right of the quantity and between the demand and supply curves.

left of the quantity and between the demand and supply curves.

left of the quantity, above the demand curve, and below the supply curve.

right of the quantity, above the demand curve, and below the supply curve.

Answer 1

left of the quantity and between the demand and supply curves.

Explanation: Economic surplus = consumer surplus + producer surplus.

Consumer surplus is the area between the demand curve and the price line.

Producer surplus is the area between the supply curve and the price line.

Also, quantity is posted on the horizontal line.

So, economic surplus is the area left of the quantity and between the demand and supply curves.