The Accompanying Graph Represents the Purely Competitive Market for a Product

question 53

Multiple Choice

The accompanying graph represents the purely competitive market for a product. When the market is at equilibrium, the value of the total benefits derived by consumers from this product would be represented by the area

• A)a + b + c + d.
• B)a + b + c.
• C)a.
• D)b + c.

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