AP Microeconomics Quiz
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SUPPLY AND DEMAND
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If a market is in a perfectly competitive equilibrium, which of the following statements is NOT necessarily true?
A
The sum of consumer and producer surplus is at its maximum possible value.
B
The marginal benefit for the last unit traded is equal to its marginal cost.
C
Any government intervention that alters the price will create a deadweight loss.
D
Every participant in the market, both buyer and seller, gains a positive surplus.
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