Answer to Question #70278 in Economics for Ayanna Jones

Question #70278

Refer to Exhibit 4-9. If the wheat market is in competitive equilibrium, the consumers’ surplus will equal

a.
area 1 + 2 + 3

b.
area 1 + 2 + 4

c.
area 3 + 5

d.
area 1 + 2 + 3 + 4 + 5

e.
area 6

Expert's answer

C

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