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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

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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
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
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