Price 20 15 10 B D - I IE 100 250 Quantity S D If the government decides to restrict the quantity that is sold to 100, which of the following is not a true statement? a. There will now be an efficiency loss due to underproduction X b. Mutually beneficial transactions have been missed. c. The market is not at equilibrium d. Total surplus will fall by areas C and E e. Consumer surplus will be maximized

Price 20 15 10 B D - I IE 100 250 Quantity S D If the government decides to restrict the quantity that is sold to 100, which of the following is not a true statement? a. There will now be an efficiency loss due to underproduction X b. Mutually beneficial transactions have been missed. c. The market is not at equilibrium d. Total surplus will fall by areas C and E e. Consumer surplus will be maximized

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

Section7.1: Consumer Surplus

Problem 1QQ

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