The diagram shows the demand for and supply of tickets for a music festival.
If tickets are priced at ${P_1}$, it is anticipated that demand will be ${Q_1}$. There is a discount for those that buy tickets in the first hour, who will pay ${P_2}$. All tickets are sold in the first hour.
Which area on the diagram shows how much consumer surplus was increased by buying the tickets in the first hour?
1 )
${P_2}{X_2}{Q_2}O$
2 )
${P_1}{X_1}{Q_1}O$
${P_1}{X_1}{X_2}{P_2}$
4 )
$X{X_1}{Q_1}O$
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