In the Long-Run Equilibrium in Perfect Competition,consumer Surplus Is

question 91

Multiple Choice

In the long-run equilibrium in perfect competition,consumer surplus is

• A) positive.
• B) negative.
• C) zero.
• D) less than producer surplus.

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Definitions:

Adaptations

Modifications in an organism's structure, function, or behavior suitable for the environment, enhancing survival and reproductive success.

Population

A population comprising individuals belonging to the same species, residing in a common location simultaneously, and able to reproduce among themselves.

Taxonomy

The science of classification, specifically the classification of living and extinct organisms into categories such as species, genus, family, etc.

Divine Plan

Divine Plan refers to a belief or doctrine that suggests the existence of a supernatural intention or guidance behind the events in the universe.