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Which of the Following Statements Is True

Question 38

Multiple Choice
Which of the following statements is true? A)Consumer surplus measures the total benefit from participating in a market. B)When a market is in equilibrium, consumer surplus equals producer surplus. C)Consumer surplus measures the net benefit from participating in a market. D)Producer surplus measures the total benefit received by producers from participating in a market.

Which of the following statements is true?


A) Consumer surplus measures the total benefit from participating in a market.
B) When a market is in equilibrium, consumer surplus equals producer surplus.
C) Consumer surplus measures the net benefit from participating in a market.
D) Producer surplus measures the total benefit received by producers from participating in a market.

Correct Answer:

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