Economics · Microeconomics and Financial Regulation
Which of the following statements is/are correct? 1. For a linear demand curve (P = a − bQ), Consumer Surplus is calculated as 12 × Q* × (a − P*), where Q* is equilibrium quantity and P* is equilibrium price. 2. In India, the IRDAI and PFRDA are designated as the major sectoral regulators for the insurance and pension markets, respectively. 3. Collusion among firms in an oligopoly represents the achievement of a Nash equilibrium of non-cooperative competition. Select the correct answer using the code given below:
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