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    Exam 3: Demand, Supply, and the Market Process
  5. Question
    Figure 3-21 Refer to Figure 3-21. at the Quantity Q <Sub>3</sub>
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Figure 3-21 Refer to Figure 3-21. at the Quantity Q 3

Question 17

Question 17

Multiple Choice

Figure 3-21 Figure 3-21   Refer to Figure 3-21. At the quantity Q <sub>3</sub>, A)  the market is in equilibrium. B)  consumer surplus is maximized. C)  the sum of consumer surplus and producer surplus is maximized. D)  the value to buyers is less than the cost to sellers.
Refer to Figure 3-21. At the quantity Q 3,


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

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