
Figure 3.3 Consumer Surplus and the Elasticity of Demand
D1 represents the demand for glasses before a popular substitute good, contact lenses, were available.
D1 is relatively inelastic, and the total consumer surplus,
A +
B, is large.
D2 represents the demand for glasses after contact lenses became widely available.
D2 is relatively elastic, and the total consumer surplus,
B, is relatively small.