In the above figure, the market is at its equilibrium. Area A is equal to

A) consumer surplus.
B) total revenue.
C) marginal benefit.
D) producer surplus.
E) total surplus.

A

Economics

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What will be an ideal response?

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Under monopolistic competition ________

A) many goods and services are not standardized B) prices adjust slowly to equilibrium C) even if there is substantial competition in the market, some firms can set prices D) all of the above E) none of the above

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