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:

False Positive

A test result which wrongly indicates the presence of a condition or characteristic.

Ergot Fungus

A type of fungus that grows on rye and other grains, producing toxins that can cause serious health problems if ingested.

Radioimmunoassay

A sensitive laboratory method used to measure concentrations of substances, typically hormones or drugs, in a sample, utilizing antibodies and radioactive markers.

Gas Chromatography / Mass Spectrometry

A laboratory method combining gas chromatography and mass spectrometry to identify different substances within a test sample.