The Following Figure Shows Equilibrium at the Industry and Firm

The following figure shows equilibrium at the industry and firm level.Figure 10.6
In the figure,
S₁, S₂, S₃ are the market supply curves.D₁ and D₂ are the market demand curves.MC is the marginal cost curve of the firm.MR₁ and MR₂ are the marginal revenue curves of the firm.ATC is the average-total-cost curve of the firm.
-Graphically, consumer surplus is the area:

A) above the equilibrium price and below the demand curve.
B) below the equilibrium price and above the supply curve.
C) above the equilibrium price and below the supply curve.
D) below the equilibrium price and above the demand curve.
E) above the equilibrium price and above the supply curve.

Correct Answer:

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