Use the figure below to answer the following question. Figure 5.3.3
-Choose the correct statement.
A)The competitive market pushes the quantity produced to its efficient level.
B)When the efficient quantity is produced in a competitive market,consumer surplus is maximized.
C)Competitive equilibrium occurs when demand equals supply.
D)When the efficient quantity is produced in a competitive market,producer surplus is maximized.
E)When the efficient quantity is produced in a competitive market,producer surplus is minimized.

Question

Use the figure below to answer the following question.  Figure 5.3.3
-Choose the correct statement.
A)The competitive market pushes the quantity produced to its efficient level. 
B)When the efficient quantity is produced in a competitive market,consumer surplus is maximized. 
C)Competitive equilibrium occurs when demand equals supply. 
D)When the efficient quantity is produced in a competitive market,producer surplus is maximized. 
E)When the efficient quantity is produced in a competitive market,producer surplus is minimized.

Quizplus · Accepted Answer

The Answer of Use the figure below to answer the following question.  Figure 5.3.3
-Choose the correct statement.
A)The competitive market pushes the quantity produced to its efficient level. 
B)When the efficient quantity is produced in a competitive market,consumer surplus is maximized. 
C)Competitive equilibrium occurs when demand equals supply. 
D)When the efficient quantity is produced in a competitive market,producer surplus is maximized. 
E)When the efficient quantity is produced in a competitive market,producer surplus is minimized.

Use the Figure Below to Answer the Following Question