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Figure 12.3.2 Consider Figure 12.3.2, which shows four different mark...

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An image of four graphs plots price versus Quantity. The graphs are as follows. In the graphs, the points plotted on the y-axis are P sub 0. The graphs plot two slopes from top left to mid-bottom and bottom-right respectively and a rising slope from mid-left to top right. In the first, second, third, and fourth graph, the first slope falls from top left to mid of x-axis labeled M R. The second slope falls from top left to the bottom right of x-axis labeled D. The rising slope passes through the mid of the second slope is labeled M C. The area covered by the rising curve and the slope is shaded.

Figure 12.3.2

Consider Figure 12.3.2, which shows four different market outcomes. The light grey area shows consumer surplus, and the dark grey area shows producer surplus. Which graph shows the consumer surplus and the producer surplus in a perfectly competitive market?

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