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Figure 3-24 In Figure 3-24, Which of the Following Is True

Question 549

Multiple Choice

Figure 3-24
Figure 3-24 In Figure 3-24, which of the following is true? A) At P3, consumer surplus and producer surplus are equal. B) At P2, consumer surplus is greater than producer surplus. C) At P1, consumer surplus is greater than producer surplus. D) At P1, consumer surplus and producer surplus are equal.
In Figure 3-24, which of the following is true?

A) At P3, consumer surplus and producer surplus are equal.
B) At P2, consumer surplus is greater than producer surplus.
C) At P1, consumer surplus is greater than producer surplus.
D) At P1, consumer surplus and producer surplus are equal.

Correct Answer: