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When a Competitive Equilibrium Is Achieved in a Market

Question 73

Multiple Choice

When a competitive equilibrium is achieved in a market,


A) all individuals are better off than they would be if a price ceiling or price floor was imposed by government.
B) the total net benefit to society is maximized.
C) the total benefits to consumers are equal to the total benefits to producers.
D) economic surplus equals the deadweight loss.

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