21\nprice\n$p_{1}$\n0\n$q_{1}$\n$q_{2}$\n$q_{3}$\nquantity\nrefer to the diagram. assuming equilibrium price…

21\nprice\n$p_{1}$\n0\n$q_{1}$\n$q_{2}$\n$q_{3}$\nquantity\nrefer to the diagram. assuming equilibrium price $p_{1}$, consumer surplus is represented by areas\nmultiple choice\n$c + d$\n$a + b$\n$a + b + c + d$\n$a + c$\ns\na\nb\ne\nc\nd\nf\nd

21\nprice\n$p_{1}$\n0\n$q_{1}$\n$q_{2}$\n$q_{3}$\nquantity\nrefer to the diagram. assuming equilibrium price $p_{1}$, consumer surplus is represented by areas\nmultiple choice\n$c + d$\n$a + b$\n$a + b + c + d$\n$a + c$\ns\na\nb\ne\nc\nd\nf\nd

Answer

Brief Explanations:

Consumer surplus is the area above the equilibrium - price line and below the demand curve. In the given diagram, at equilibrium price $P_1$, the area representing consumer surplus is composed of the regions $a + b$. This is because consumer surplus is the difference between what consumers are willing to pay (represented by the demand curve) and what they actually pay (the equilibrium price $P_1$).

Answer:

B. $a + b$