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neien esuld2Mejoconent3279893MiewContens;68001303Me=-Ls > Unit 2 - Demand 6 Supply , Unit 2 Konewton 6 GoViewActivities...

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Economics

neien esuld2Mejoconent3279893MiewContens;

68001303Me=

-Ls > Unit 2 - Demand 6 Supply , Unit 2 Konewton 6 GoViewActivities Unit

2(2.4)

- Market EHiclency 2 (2.4) - Market Efficiency Question Which ofthe following best defines conoumer surplus? Select the correctanswer below: It is the fall in tooal surplus that occurs when theeconomy produces at an inefficient quantery. It is the minimumprice one is able to charge for a good or service and remain openin the short-run. It is the gap between the price for whichproducers are willing to sell a product, based on their costs, andthe market equilibrium. It is the gap between the price consumersare willing to pay, based on their preferences, and the marketequilibrium price.

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