According to the Graph Shown

question 30

Multiple Choice

According to the graph shown:

• A) consumer surplus is greater than producer surplus.
• B) producer surplus is greater than consumer surplus.
• C) total surplus is smaller than consumer surplus.
• D) total surplus is smaller than producer surplus.

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Definitions:

Rice

A staple food grain that is a primary food source for more than half of the world's population, known for its versatility and ability to be grown under varied agricultural conditions.

Fewer Inputs

Utilizing a smaller amount of resources or factors of production to achieve a particular output.

Specialization

A process wherein individuals or businesses focus on producing a limited range of goods or services to gain greater efficiency and productivity.

Trade

The swapping of goods, services, or both among two or more entities.