In the above figure, if the market is in equilibrium, area A + area B + area C equals

A) total surplus.
B) consumer surplus.
C) deadweight loss.
D) producer surplus.
E) total revenue.


B

Economics

You might also like to view...

Any point on or outside the production possibilities frontier is attainable.

Answer the following statement true (T) or false (F)

Economics

Using the data in the table above, when the price of a skirt rises from $20 to $35, what is the price elasticity of demand? (Use the midpoint method.)

A) 0.33 B) 0.25 C) 1.00 D) 1.33 E) 3.00

Economics

What two things does the amount of property income a household earns depend upon?

What will be an ideal response?

Economics

For a perfectly competitive firm, marginal revenue is identical to marginal cost at every quantity

Indicate whether the statement is true or false

Economics