The graph below represents the market for lychee nuts.The equilibrium price is $7.00 per bushel,but the market price is $5.00 per bushel.Identify the areas representing consumer surplus,producer surplus,and dead-weight loss at the equilibrium price of $7.00 and at the market price of $5.00. __________________________________________________________________________________________________________________________________________________________________________________________

Question

The graph below represents the market for lychee nuts.The equilibrium price is $7.00 per bushel,but the market price is $5.00 per bushel.Identify the areas representing consumer surplus,producer surplus,and dead-weight loss at the equilibrium price of $7.00 and at the market price of $5.00.  __________________________________________________________________________________________________________________________________________________________________________________________

Quizplus · Accepted Answer

The Answer of The graph below represents the market for lychee nuts.The equilibrium price is $7.00 per bushel,but the market price is $5.00 per bushel.Identify the areas representing consumer surplus,producer surplus,and dead-weight loss at the equilibrium price of $7.00 and at the market price of $5.00.  __________________________________________________________________________________________________________________________________________________________________________________________

The Graph Below Represents the Market for Lychee Nuts