Consider a Market That Is in Equilibrium with a Market-

question 87

Multiple Choice

Consider a market that is in equilibrium with a market- clearing price. Economic surplus is shown by

• A) the area that is both below the demand curve and above the supply curve.
• B) the area to the right of the market- clearing price and quantity.
• C) the intersection of the supply and demand curves.
• D) the area below the supply curve up to the equilibrium quantity and below the demand curve beyond the equilibrium quantity.
• E) the area that is both above the demand curve and below the supply curve.

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Definitions:

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