According to the graph shown, consumer surplus is:

A. the area above the supply curve and below the price.
B. the area above the demand curve and below the price.
C. the area under the demand curve and above the market price.
D. the area under the supply curve and above the price.

Answer: C

Economics

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Which of the following will limit the ability of a union to push the wages of its members much above competitive levels?

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