In a Competitive Market When There Is No Deadweight Loss

question 135

Multiple Choice

In a competitive market when there is no deadweight loss

• A)consumer surplus is minimized.
• B)producer surplus is minimized.
• C)consumer surplus plus producer surplus is minimized.
• D)consumer surplus plus producer surplus is maximized.

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Definitions:

Sacropterygian Fishes

An ancient group of lobe-finned fishes, some of whose descendants evolved into terrestrial vertebrates.

Ancestral

Relating to or inherited from an ancestor or ancestors.

Amphibians

Amphibians are a class of cold-blooded vertebrates that include frogs, toads, salamanders, and newts, characterized by their ability to live both on land and in water.

Chordate Group

A large group of animals that, at some stage in their development, possess a notochord, dorsal nerve cord, pharyngeal slits, and a post-anal tail.