Question

The total consumer surplus for good X can be calculated in all ways EXCEPT as:

Select one:
a. the sum of the individual consumer surpluses for all buyers of X.
b. the area bounded by the demand curve for X and the two axes.
c. the sum, for all buyers of X, of the difference between what each buyer is willing to pay for X and the amount actually paid.
d. the area below the demand curve for X and above the price of X.

Answer 1

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

Step-by-step explanation: