The graph shows the market for shrimp. The government passes a new law that requires producers to sell 100 pounds of shrimp a day. www This market for shrimp is because OA. inefficient; the marginal benefit from the 100th pound of shrimp is greater than the marginal cost of the 100th pound of shrimp OB. efficient; the marginal cost of the 100th pound of shrimp equals the marginal benefit from the 100th pound of shrimp OC. efficient; production is greater than zero OD. inefficient; more shrimp could be produced OE. inefficient; the marginal cost of the 100th pound of shrimp is greater than the marginal benefit from the 100th pound of shrimp A Draw the deadweight loss when production is 100 pounds of shrimp a day. Label it DWL. Selected: none ▸ 10.00- 9.00- 8.00- 7.00- 6.00- 5.00 4.00- 3.00- 2.00- 1.00- 0.00- Price (dollars per pound) 0 3.00 D 40 60 80 100 120 140 Quantity (pounds per day) >>> Draw only the objects specified in the question. 20 V Delete Clear ? S
The graph shows the market for shrimp. The government passes a new law that requires producers to sell 100 pounds of shrimp a day. www This market for shrimp is because OA. inefficient; the marginal benefit from the 100th pound of shrimp is greater than the marginal cost of the 100th pound of shrimp OB. efficient; the marginal cost of the 100th pound of shrimp equals the marginal benefit from the 100th pound of shrimp OC. efficient; production is greater than zero OD. inefficient; more shrimp could be produced OE. inefficient; the marginal cost of the 100th pound of shrimp is greater than the marginal benefit from the 100th pound of shrimp A Draw the deadweight loss when production is 100 pounds of shrimp a day. Label it DWL. Selected: none ▸ 10.00- 9.00- 8.00- 7.00- 6.00- 5.00 4.00- 3.00- 2.00- 1.00- 0.00- Price (dollars per pound) 0 3.00 D 40 60 80 100 120 140 Quantity (pounds per day) >>> Draw only the objects specified in the question. 20 V Delete Clear ? S
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 8PA
Related questions
Question
Help please
![The graph shows the market for shrimp.
The government passes a new law that requires producers to sell 100 pounds of
shrimp a day.
***
This market for shrimp is
OA. inefficient; the marginal benefit from the 100th pound of shrimp is greater
than the marginal cost of the 100th pound of shrimp
because
B. efficient; the marginal cost of the 100th pound of shrimp equals the
marginal benefit from the 100th pound of shrimp
OC. efficient; production is greater than zero
OD. inefficient; more shrimp could be produced
O E. inefficient; the marginal cost of the 100th pound of shrimp is greater than
the marginal benefit from the 100th pound of shrimp
A
Draw the deadweight loss when production is 100 pounds of shrimp a day. Label it
DWL.
Selected:
none
▸
10.00
9.00-
8.00-
7.00-
6.00-
5.00-
4.00-
3.00-
13.00
2.00-
1.00-
0.00
Price (dollars per pound)
0
20
40
60
80
100
Quantity (pounds per day)
>>> Draw only the objects specified in the question.
S
Delete Clear ?
D
120 140
Next
X](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ba9694f-ac5f-4c6b-924f-7226095247f2%2F0a9bb20b-478a-46fa-9437-29c0551fa6af%2F3i269qa_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The graph shows the market for shrimp.
The government passes a new law that requires producers to sell 100 pounds of
shrimp a day.
***
This market for shrimp is
OA. inefficient; the marginal benefit from the 100th pound of shrimp is greater
than the marginal cost of the 100th pound of shrimp
because
B. efficient; the marginal cost of the 100th pound of shrimp equals the
marginal benefit from the 100th pound of shrimp
OC. efficient; production is greater than zero
OD. inefficient; more shrimp could be produced
O E. inefficient; the marginal cost of the 100th pound of shrimp is greater than
the marginal benefit from the 100th pound of shrimp
A
Draw the deadweight loss when production is 100 pounds of shrimp a day. Label it
DWL.
Selected:
none
▸
10.00
9.00-
8.00-
7.00-
6.00-
5.00-
4.00-
3.00-
13.00
2.00-
1.00-
0.00
Price (dollars per pound)
0
20
40
60
80
100
Quantity (pounds per day)
>>> Draw only the objects specified in the question.
S
Delete Clear ?
D
120 140
Next
X
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Essentials of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337091992/9781337091992_smallCoverImage.gif)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![Essentials of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337091992/9781337091992_smallCoverImage.gif)
Essentials of Economics (MindTap Course List)
Economics
ISBN:
9781337091992
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax