Figure 3-21 -Refer to Figure 3-21.At the Quantity Q₃

question 232

Multiple Choice

Figure 3-21

-Refer to Figure 3-21.At the quantity Q₃,

• A)the market is in equilibrium.
• B)consumer surplus is maximized.
• C)the sum of consumer surplus and producer surplus is maximized.
• D)the value to buyers is less than the cost to sellers.

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Definitions:

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