The Diagram Below Shows the Demand and Supply Curves in a Perfectly

question 24

Multiple Choice

The diagram below shows the demand and supply curves in a perfectly competitive market.
FIGURE 12-5
-Refer to Figure 12-5. If output in this market were Q1, but the price was still at its free-market level, the loss in consumer surplus relative to the competitive equilibrium would be illustrated by area

• A) P3P2E.
• B) P1P3E.
• C) 1.
• D) 2.
• E) 1 + 2.

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Definitions:

Input Connector

A device or port where signal or data enters an electronic system or component.

Output Pins

The terminals or connectors on a device, like a microcontroller or integrated circuit, that provide electrical output to other parts of a system.

Input Pins

Physical or virtual connectors on a device that receive signals or data from external sources.

BAND Function Block

A functional block in programming or digital logic that performs a bitwise AND operation on its input signals.