Refer to the graph below. At equilibrium, the total maximum amount that consumers would have been willing to pay for the product is represented by the area:
The equilibrium point in the market is where S and D curve intersect.
A. a + b
B. a + b + c
C. a
D. b + c
B. a + b + c
Economics
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Giving the store clerk a $20 bill for a sweater priced at $20 is an example of money serving as a
A) medium of exchange. B) unit of accounting. C) store of value. D) standard of deferred value.
Economics
Which of the following is correct?
A. Public saving equals national saving plus private saving. B. National saving equals public saving minus private saving. C. National saving equals private saving plus public saving. D. Private saving equals national saving plus public saving.
Economics