LU Page view A" Read aloud [T) Add text V Dra Consider the market for LCD TVs represented by the graph below. Consumer surplus is equal to the area A. under the demand curve and above the supply curve for the units consumed. B. above the supply curve and below the price for the units consumed. C. under the demand curve for the units consumed. D. under the demand curve and above the price for the units consumed. Producer surplus is equal to the area A. under the demand curve and above the supply curve for the units produced and sold. B. above the supply curve for the units produced and sold. C. under the demand curve and above the price for the units produced and sold. D. above the supply curve and below the price for the units produced and sold. What area of the graph represents consumer surplus? What area represents producer surplus? So A Price B C Do Quantity (per time period)