Use the Following to Answer Question(s): Surplus and Demand

Multiple Choice

Use the following to answer question(s) : Surplus and Demand

-(Exhibit: Surplus and Demand) The amount by which the total benefits to consumers exceeds their total expenditure is called _______ and is depicted at quantity OE by the area _______ .

A) producer surplus; BCD
B) consumer surplus; OCDE
C) consumer surplus; BCD
D) net benefit; OBDE