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Figure 7-22 -Refer to Figure 7-22.At the Quantity Q3

Question 24

Multiple Choice

Figure 7-22
Figure 7-22 -Refer to Figure 7-22.At the quantity Q3, A) the market is in equilibrium. B) consumer surplus is maximized. C) the sum of consumer surplus and producer surplus is maximized. D) the marginal value to buyers is less than the marginal cost to sellers.
-Refer to Figure 7-22.At the quantity Q3,


A) the market is in equilibrium.
B) consumer surplus is maximized.
C) the sum of consumer surplus and producer surplus is maximized.
D) the marginal value to buyers is less than the marginal cost to sellers.

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