[Solved] In a Perfectly Competitive Industry at Equilibrium Price and Quantity

Question 93

Multiple Choice

Question 93

In a perfectly competitive industry at equilibrium price and quantity that the

A)producer surplus exceeds the consumer surplus.
B)consumer and producer surplus is maximized.
C)consumer surplus exceeds producer surplus.
D)willingness of consumers to pay exceeds the opportunity cost of producing the product.

Correct Answer:

Business

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