Which of the following is necessary for efficient markets?

Which area in the above figure equals the producer surplus under perfect price discrimination?

A) A + B + C + D + E + F + G + H + I + J + K + L B) A + B + C + D + E + F + G + H + I + J + K C) A + B + C + D + E + F + G + H D) C + D + E + F + G + H

Suppose that the price of wheat is above its equilibrium price. You would expect to see

A) a shortage on the market that causes prices to increase further. B) an increase in quantity demanded because of the high price. C) a leftward shift of the demand curve because of the high price. D) sellers begin to lower their prices because of the surplus of wheat.