Exhibit 4-8
Refer to Exhibit 4-8. If the wheat market is in competitive equilibrium the total surplus will equal
A)area 1 + 2 + 3 + 4 + 5
B)area 1 + 2 + 3
C)area 2 + 3 + 4 + 5
D)area 4 + 5

Question

Exhibit 4-8 
Refer to Exhibit 4-8.  If the wheat market is in competitive equilibrium the total surplus will equal
A)area 1 + 2 + 3 + 4 + 5 
B)area 1 + 2 + 3 
C)area 2 + 3 + 4 + 5 
D)area 4 + 5

Quizplus · Accepted Answer

The Answer of Exhibit 4-8 
Refer to Exhibit 4-8.  If the wheat market is in competitive equilibrium the total surplus will equal
A)area 1 + 2 + 3 + 4 + 5 
B)area 1 + 2 + 3 
C)area 2 + 3 + 4 + 5 
D)area 4 + 5

Exhibit 4-8 Refer to Exhibit 4-8. If the Wheat Market Is in Competitive