If total surplus equals $45,000 at the equilibrium price, then total surplus will rise if the price falls below equilibrium.

Name: If total surplus equals $45,000 at the equilibrium price, then total surplus will rise if the price falls below equilibrium.
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Question

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At the equilibrium price, total surplus (the sum of consumer surplus and producer surplus) is maximized. If the price falls below equilibrium, it leads to a loss of total surplus due to inefficiencies such as excess demand.

If Total Surplus Equals $45,000 at the Equilibrium Price, Then