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SL.CXam Question: 3 pts |8 of 45 (7 complete) e graph shows the perfedtly compel

ID: 1125307 • Letter: S

Question

SL.CXam Question: 3 pts |8 of 45 (7 complete) e graph shows the perfedtly compelitive market for sunhats Price (doilars per sunhat) aw a shape that shows the consumer surplus raw a shape that shows the produoer surplas raw a point to indicate the efficient equlibrium A the sum of consumer surplus and producer surplus is maximized B, consumer surplus is main zed OC. the sum of consumer surplus and producer surplus is minimized producer surplus-maimized D. Quanity(sunhats per week) Draw only the oejects specified in the quesion

Explanation / Answer

At a comparative equilibrium

A> the sum of the consumer and producer surplus is maximized.

Reason

Competitive equilibrium is pareto optimal.

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