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.

---

Definitions:

Hospice Services

Care designed to provide support and comfort to individuals in the final phase of a terminal illness, focusing on quality of life.

Alzheimer's Disease

A progressive neurological disorder that leads to memory loss, cognitive decline, and inability to perform everyday activities.

Glioblastoma

An aggressive type of cancer that occurs in the brain or spinal cord, characterized by rapid growth and the tendency to spread quickly.

Chronic Obstructive Pulmonary Disease (COPD)

A group of lung diseases that block airflow and make breathing difficult, primarily caused by long-term exposure to irritating gases or particulate matter.