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Total Surplus 2 Consider a market with an equilibrium price of P and equilibrium quantity of Q. Let us think about why this market equilibrium
Total Surplus 2 Consider a market with an equilibrium price of P and equilibrium quantity of Q. Let us think about why this market equilibrium outcome maximizes surplus. Suppose more than Q units were sold. Then: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a Surplus is still maximized. b There is a potential for more trades that would further increase surplus. We could increase surplus by reducing trades. d Surplus is not maximized but still higher than in equilibrium
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