Use the Following Statements to Answer This Question: I

question 12

Multiple Choice

Use the following statements to answer this question: I.When the market price is held above the competitive price level,the loss in consumer surplus is fully captured by producers.
II.When the market price is held above the competitive level,there is no deadweight loss because producer gains exactly equal consumer losses.

• A)I and II are true.
• B)I is true and II is false.
• C)II is true and I is false.
• D)I and II are false.

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