Read the two statements and choose the correct option.

I. Consumer surplus is the area between the demand curve and the price line, up to the quantity sold.

II. Consumer surplus is the amount consumers actually spend.

Explanation

1. 01

   I: the area under the demand curve is what buyers would pay; taking off what they do pay leaves the region above the price line. True.

2. 02

   II: what they spend is $p_0x_0$; the surplus is the saving on top of it. False.