Consider a Market That Is in Equilibrium with a Market-Clearing

question 27

Multiple Choice

Consider a market that is in equilibrium with a market-clearing price.Economic surplus is shown by

• A)the intersection of the supply and demand curves.
• B)the area that is both below the demand curve and above the supply curve.
• C)the area that is both above the demand curve and below the supply curve.
• D)the area to the right of the market-clearing price and quantity.
• E)the area below the supply curve up to the equilibrium quantity and below the demand curve beyond the equilibrium quantity.

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