Assume the Market Depicted in the Graph Is in Equilibrium

question 107

Multiple Choice

Assume the market depicted in the graph is in equilibrium at demand (D) and supply (S₁) . Total surplus is:

• A) greater than it is when the market is in equilibrium at D and S₂.
• B) less than it is when the market is in equilibrium at D and S₂.
• C) the same as it is when market is in equilibrium at D and S₂.
• D) zero.

---

Definitions:

Critical Habitats

Areas identified as essential for the conservation of endangered or threatened species, requiring special management and protection.

COSEWIC

The Committee on the Status of Endangered Wildlife in Canada, a group that assesses and classifies the conservation status of wildlife species at risk of extinction.

Classified

Information, documents, or materials that have been officially designated as confidential and restricted in terms of access and distribution.

Threatened

A conservation status indicating that a species is likely to become endangered within the foreseeable future throughout all or a significant portion of its range.