In the Long-Run Equilibrium in Perfect Competition,consumer Surplus Is

question 91

Multiple Choice

In the long-run equilibrium in perfect competition,consumer surplus is

• A) positive.
• B) negative.
• C) zero.
• D) less than producer surplus.

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Definitions:

Average Score

The sum of all the numerical values in a set divided by the number of values in the set, representing the central tendency.

Variable

A component, trait, or aspect that is subject to alteration or modification.

Normally Distributed

A statistical term describing data that forms a bell-shaped curve when plotted, indicating that most values cluster around a central mean and tails off symmetrically towards the extremes.

Standard Deviation

A statistic that measures the dispersion or variability of a dataset relative to its mean, indicating how spread out the data points are.