Assume the graph on the right represents the marginal cost and demand + curves for a perfectly competitive industry. 20- What area represents consumer surplus? 18- 16- 1.) Using the point drawing tool, place a point at the output and price combination that would exist in equilibrium for a perfectly competitive industry. 2.) Using the triangle drawing tool, depict the area that represents Price consumer surplus in this competitive industry. Label your area 'CS.' Carefully follow the instructions above and only draw the required objects. MC N D 0 20 40 60 80 100 120 140 160 180 200 Quantity