Price 110 Supply 100 90 80 70 60 Demand 50 45 40 30 + 20 10 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity Choose the wrong statement. When q=50 is traded in the market, total economic surplus is 2625. The marginal benefit at q=50 is greater than the marginal benefit at the equilibrium output level. If q=50 is traded in the market, the dead-weight-less (DWL) is 845. If q=50 is traded in the market, the producer surplus is 2375.

Price 110 Supply 100 90 80 70 60 Demand 50 45 40 30 + 20 10 10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170 Quantity Choose the wrong statement. When q=50 is traded in the market, total economic surplus is 2625. The marginal benefit at q=50 is greater than the marginal benefit at the equilibrium output level. If q=50 is traded in the market, the dead-weight-less (DWL) is 845. If q=50 is traded in the market, the producer surplus is 2375.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter3: Supply And Demand: Theory

Section3.3: The Market: Putting Supply And Demand Together

Problem 5ST

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