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

A) the area beneath the market demand curve and above the market clearing price.
B) the area above the market demand curve and above the market clearing price.
C) the total area beneath the market demand curve.
D) definitely zero.

A

Economics

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Selling the same product under different brand names allows a firm to price discriminate as long as

A) customers know the products are identical. B) customers do not know the products are identical. C) the products really are not the same. D) the firm lets customers know that the products are identical.

Economics

Which of the following is true of successful price discriminators? a. They make greater profits than by charging everyone a uniform price

b. Their customers must have different willingness to pay. c. Their customers must have difficulty reselling the good to other customers. d. All of the above are true of successful price discriminators.

Economics