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Assume the Market Depicted in the Graph Is in Equilibrium

Question 107

Multiple Choice

Assume the market depicted in the graph is in equilibrium at demand (D) and supply (S<sub>1</sub>) . Total surplus is: A) greater than it is when the market is in equilibrium at D and S<sub>2</sub>. B) less than it is when the market is in equilibrium at D and S<sub>2</sub>. C) the same as it is when market is in equilibrium at D and S<sub>2</sub>. D) zero. Assume the market depicted in the graph is in equilibrium at demand (D) and supply (S1) . Total surplus is:


A) greater than it is when the market is in equilibrium at D and S2.
B) less than it is when the market is in equilibrium at D and S2.
C) the same as it is when market is in equilibrium at D and S2.
D) zero.

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