Total Surplus

question 40

Multiple Choice

Total surplus

• A)can be used to measure a market's efficiency.
• B)is the sum of consumer and producer surplus.
• C)is the value to buyers minus the cost to sellers.
• D)All of the above are correct.

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Definitions:

Politics

The process of making decisions that apply to members of a group or the activities associated with governance of a country or area.

Cognitive Tool

An aid or strategy used to enhance mental processes such as thinking, learning, and problem-solving.

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An idea or thought that is intangible and not based directly on physical reality, requiring a level of thinking and understanding beyond concrete objects.

Dissimilar

Different in nature or quality; not alike or similar.