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Exhibit 4-8 Refer to Exhibit 4-8.  If the Wheat Market Is in Competitive

Question 17

Multiple Choice

Exhibit 4-8 Exhibit 4-8 Refer to Exhibit 4-8.  If the wheat market is in competitive equilibrium, the consumers' surplus will equal A) area 1 + 2 + 3 B) area 1 + 2 + 4 C) area 3 + 5 D) area 1 + 2 + 3 + 4 + 5 E) area 6
Refer to Exhibit 4-8.  If the wheat market is in competitive equilibrium, the consumers' surplus will equal


A) area 1 + 2 + 3
B) area 1 + 2 + 4
C) area 3 + 5
D) area 1 + 2 + 3 + 4 + 5
E) area 6

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