Suppose a Market Is in Equilibrium

question 37

Multiple Choice

Suppose a market is in equilibrium. The area below the demand curve and above the market price is:

• A)total economic surplus.
• B)producer surplus.
• C)consumer surplus.
• D)the loss in total economic surplus.

---

Definitions:

Havana

The capital city, major port, and leading commercial center of Cuba, known for its historical buildings, vibrant culture, and significant role in the Caribbean region.

Rising Power

Refers to a nation or entity that is becoming increasingly influential and strong in economic, political, or military terms on the global stage.

Open Door Policy

Demand in 1899 by Secretary of State John Hay, in hopes of protecting the Chinese market for U.S. exports, that Chinese trade be open to all nations.

Investment Opportunities

Prospects or options to invest capital with the potential to generate a return.