When a Competitive Equilibrium Is Achieved in a Market

question 73

Multiple Choice

When a competitive equilibrium is achieved in a market,

• A)all individuals are better off than they would be if a price ceiling or price floor was imposed by government.
• B)the total net benefit to society is maximized.
• C)the total benefits to consumers are equal to the total benefits to producers.
• D)economic surplus equals the deadweight loss.

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