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Assume the Market Depicted in the Graph Is in Equilibrium

question 106

Multiple Choice

  Assume the market depicted in the graph is in equilibrium at demand (D) and supply (S<sub>1</sub>) . Consumer surplus is: A) greater than it is when market is in equilibrium at D and S<sub>2</sub>. B) less than it is when market is in equilibrium at D and S<sub>2</sub>. C) the same as it is when market is in equilibrium at D and S<sub>2</sub>. D) zero. Assume the market depicted in the graph is in equilibrium at demand (D) and supply (S1) . Consumer surplus is:

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Definitions:

Evaluate

To assess the value of an expression.

Calculator

An electronic or mechanical device used to perform mathematical calculations.

Particle Size

A characteristic measurement of solid or liquid particles that represents their size dimension, often important in the analysis of a wide range of substances.

Stream Flowing

The movement of water in a natural course, such as a river or creek, typically from a source towards an outlet, like a lake or ocean.

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