Which of the Following Statements Is True

question 64

Multiple Choice

Which of the following statements is true?

• A)Consumer surplus measures the total benefit from participating in a market.
• B)When a market is in equilibrium, consumer surplus equals producer surplus.
• C)Consumer surplus measures the net benefit from participating in a market.
• D)Producer surplus measures the total benefit received by producers from participating in a market.

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Definitions:

Global Warming

The long-term rise in Earth's average temperature, primarily due to human activities increasing levels of greenhouse gases.

Diversion

A technique used in argumentation to shift attention away from the main issue or argument to another topic to avoid addressing the original point.

Division

A concept in mathematics where a number (the dividend) is being divided by another number (the divisor) to get a result known as the quotient.

Fallacy of Diversion

A logical fallacy where the argument is deliberately diverted to an unrelated topic to avoid addressing the original issue.