Assume the Market Depicted in the Graph Is in Equilibrium

question 36

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.

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