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To determine the consumer surplus at the market equilibrium price, we first need to understand what consumer surplus is. 

### **Consumer Surplus Definition**
Consumer surplus is the area above the equilibrium price but below the demand curve, up to the quantity purchased.

### **Analyzing the Graph:**
- **Equilibrium Point (N)**: This is where the supply and demand curves intersect. The equilibrium price is determined at this point, and the corresponding equilibrium quantity is \( Q_R \).
- The consumer surplus is the triangular area above the equilibrium price line \( Z \) and below the demand curve \( MNS \).

### **Identifying the Correct Area**
- The consumer surplus is the area above line segment \( ZN \) (the equilibrium price level) and below line segment \( MN \) (the demand curve), extending to the left from \( M \) to \( N \).

Therefore, the correct answer representing the consumer surplus is **b. GMN**.

Would you like further details or have any questions?

### 5 Related Questions
1. What does producer surplus represent on the graph?
2. How does a change in demand affect the consumer surplus?
3. What would happen to consumer surplus if the price were set above the equilibrium level?
4. How do you calculate the exact value of consumer surplus given specific prices and quantities?
5. How does elasticity of demand affect consumer surplus?

### Tip:
Always remember that consumer surplus represents the benefit consumers receive from purchasing a product for less than the maximum amount they are willing to pay.

Based on the graph above, the consumer surplus at the market equilibrium price is shown by which area?

Learn how to determine the consumer surplus from a supply and demand graph. This problem involves understanding consumer surplus, which is the area above the equilibrium price and below the demand curve. Suitable for students in Grades 11-12 studying economics.

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