Oliva.Noem! NAME PRINT LAST NAME, FIRST NAME MARKET EFFICIENCY sb.i.lorwolsd NA Use the graph below to fill in the blanks. 1. Price ($) 8. Supply e 6. Demand basmoT 100 200 300 Quantity On Equilibrium price is $_4 and equilibrium quantity is CC 2. In equilibrium, consumer surplus is equal to $ 4OO 2 Lapo lliw almue boyn sup 3. In equilibrium, producer surplus is equal to $ 200 w aepue The efficient level of output in this market is equal to 00.where MB = M¢ 5. The efficient level of output in this market is the level of output at which combined leupe lliw bor bo consumer and producer surplus is
Oliva.Noem! NAME PRINT LAST NAME, FIRST NAME MARKET EFFICIENCY sb.i.lorwolsd NA Use the graph below to fill in the blanks. 1. Price ($) 8. Supply e 6. Demand basmoT 100 200 300 Quantity On Equilibrium price is $_4 and equilibrium quantity is CC 2. In equilibrium, consumer surplus is equal to $ 4OO 2 Lapo lliw almue boyn sup 3. In equilibrium, producer surplus is equal to $ 200 w aepue The efficient level of output in this market is equal to 00.where MB = M¢ 5. The efficient level of output in this market is the level of output at which combined leupe lliw bor bo consumer and producer surplus is
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Oliva.Noem!
NAME
PRINT LAST NAME, FIRST NAME
MARKET EFFICIENCY
sb.i.lorwolsd
NA
Use the graph below to fill in the blanks.
1.
Price ($)
8.
Supply e
6.
Demand
basmoT
100
200
300
Quantity
On
Equilibrium price is $_4 and equilibrium quantity is CC
2.
In equilibrium, consumer surplus is equal to $ 4OO
2 Lapo lliw almue
boyn
sup
3.
In equilibrium, producer surplus is equal to $
200
w aepue
The efficient level of output in this market is equal to 00.where MB = M¢
5.
The efficient level of output in this market is the level of output at which combined
leupe lliw bor
bo
consumer and producer surplus is <maximized
Inups lew
maximized/minimized
4+
3.
2.
1.
4.
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