In a perfectly competitive market, if all firms face identical, constant marginal marginal cost curves, then consumer surplus is

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In a perfectly competitive market, all firms face identical constant marginal cost curves, implying that they all produce at the same efficient level. Therefore, the market price will be equal to the marginal cost of producers. Consumer surplus is the difference between the maximum price that consumers are willing to pay and the market price. Hence, consumer surplus is the area beneath the market demand curve and above the market clearing price.

In a Perfectly Competitive Market, If All Firms Face Identical