Use the linear demand and supply curves shown below to answer the following questions.You must show all calculations step-by-step or no credit will be given.
Use the linear demand and supply
a) The market or
b) When 10,000 units are produced and consumed, total
c) At the market price in part a, the net gain to consumers when 10,000 units are purchased is $__________.
d) At the market price in part a, the net gain to producers when they supply 10,000 units is $__________.
e) The net gain to society when 10,000 units are produced and consumed at the market price is $__________, which is called __________.
f) In
g) The net gain to society created by this market is $__________.
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