bobmarly3048 bobmarly3048

13-12-2022
Business

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At market equilibrium in a competitive market, which of the following is necessarily true?
I. Consumer surplus is maximized.
II. Producer surplus is maximized.
III. Total surplus is maximized.
a. I only
b. II only
c. III only
d. I and II only
e. I, II, and III

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