(Figure: Determining Surplus 5) According to the Graph, Consumer Surplus

question 63

Multiple Choice

(Figure: Determining Surplus 5) According to the graph, consumer surplus is _____ and producer surplus is _____ at equilibrium.

• A) $400; $200
• B) $800; $400
• C) $20; $10
• D) 40 units; 40 units

---

Definitions:

Industry

A group of companies producing similar products or services, often categorized by their primary business activities.

Necessary

Essential or needed for a certain purpose.

Market Driven

A business approach focused on creating products and services based on the existing demands and preferences of the market.

Reactive

Characterized by actions taken in response to external situations or events rather than initiating change proactively.