The graph shows the demand and supply curves for sandwiches. If the sandwich market is efficient, what is the consumer surplus, what is the producer surplus, and what is the total surplus? If the market is efficient, the consumer surplus is $. the producer surplus is $, and total surplus is $ If the demand for sandwiches increases and the sandwich makers produce the efficient quantity, the consumer surplus and the producer surplus OA. decreases; decreases OB. increases; increases OC. decreases; increases OD. increases; decreases 6- 5- 4- 3- 2- 1- Price (dollars per sandwich) 50 S D 100 150 200 250 300 Quantity (sandwiches per hour) 350

The graph shows the demand and supply curves for sandwiches. If the sandwich market is efficient, what is the consumer surplus, what is the producer surplus, and what is the total surplus? If the market is efficient, the consumer surplus is $. the producer surplus is $, and total surplus is $ If the demand for sandwiches increases and the sandwich makers produce the efficient quantity, the consumer surplus and the producer surplus OA. decreases; decreases OB. increases; increases OC. decreases; increases OD. increases; decreases 6- 5- 4- 3- 2- 1- Price (dollars per sandwich) 50 S D 100 150 200 250 300 Quantity (sandwiches per hour) 350

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 5PA

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