Which of the Following Is True of Consumer Surplus

Multiple Choice

Which of the following is true of consumer surplus?

A) It is graphically represented as the area under the equilibrium price and above the supply curve of a good.
B) It is the net gain in economic well-being associated with producing and selling the equilibrium quantity of a good.
C) It is used to measure the impact of a change in price on the economic well-being of the producers.
D) It is the difference between the value that one places on a good and the price paid for the good.