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Assume an Equilibrium Price of $7 and Equilibrium Quantity of 8

Question 23

Multiple Choice

Assume an equilibrium price of $7 and equilibrium quantity of 8 units at demand D and supply S<sub>2</sub> in the graph shown.Total surplus is: A) $32. B) $12. C) $56. D) $16. Assume an equilibrium price of $7 and equilibrium quantity of 8 units at demand D and supply S2 in the graph shown.Total surplus is:


A) $32.
B) $12.
C) $56.
D) $16.

Correct Answer:

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