Assume the Market Depicted in the Graph Is in Equilibrium

question 135

Multiple Choice

Assume the market depicted in the graph is in equilibrium. Which of the following statements is true?

• A)Consumer surplus is greater than producer surplus.
• B)Producer surplus is greater than consumer surplus.
• C)Consumer surplus is the same as producer surplus.
• D)Total surplus is smaller than producer surplus.

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Definitions:

Touch

The physical sensation perceived when something comes into contact with the skin, one of the five senses.

Nonverbal Communication

The process of conveying messages and meanings without the use of spoken or written words, through facial expressions, gestures, and body language.

Nervously

Exhibiting or characterized by anxiety, apprehension, or a lack of confidence.

One-on-one Interaction

Personal and direct communication or engagement between two individuals.