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The Diagram Below Shows the Demand and Supply Curves in a Perfectly

Question 81

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The diagram below shows the demand and supply curves in a perfectly competitive market. The diagram below shows the demand and supply curves in a perfectly competitive market. FIGURE 12-5 -Refer to Figure 12-5.If output in this market were Q<sub>1,</sub>the total loss in economic surplus relative to the competitive equilibrium would be illustrated by area A) P<sub>1</sub>P<sub>3</sub>E. B) 1. C) 2. D) 1 + 2. E) 1 + 2 + 3 + 4. FIGURE 12-5
-Refer to Figure 12-5.If output in this market were Q1,the total loss in economic surplus relative to the competitive equilibrium would be illustrated by area


A) P1P3E.
B) 1.
C) 2.
D) 1 + 2.
E) 1 + 2 + 3 + 4.

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