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Which Statement Is True When a Competitive Equilibrium Is Achieved

Question 144

Multiple Choice

Which statement is true 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 maximised.
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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