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Consider a market with typically shaped linear supply and demand curves. Suppose that at the market equilibrium, elasticity of demand is equal to elasticity of
Consider a market with typically shaped linear supply and demand curves. Suppose that at the market equilibrium, elasticity of demand is equal to elasticity of supply, i.e., |5D| = |5S|. Which of the following is true? 0 a. Producer surplus is larger than consumer surplus. O b. Consumer and producer surplus are equal. 0 c. Consumer surplus is larger than producer surplus. Q d. None of the other answers are correct
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