The diagram below shows supply,demand,and quantity exchanged of Monday matinee movie tickets.Assume it is a perfectly competitive market.
FIGURE 12- 4
-Refer to Figure 12- 4.Suppose a disequilibrium price of $7.50 per movie ticket is imposed on this market.The total economic surplus is now _ ,which is than the total economic surplus generated at the allocatively efficient level of output.
A)$187.50; $62.50 less
B)$125; $250 less
C)$187.50; $187.50 less
D)$125; $125 less
E)$62.50; $125 less

Question

The diagram below shows supply,demand,and quantity exchanged of Monday matinee movie tickets.Assume it is a perfectly competitive market.
  FIGURE 12- 4
-Refer to Figure 12- 4.Suppose a disequilibrium price of $7.50 per movie ticket is imposed on this market.The total economic surplus is now _ ,which is than the total economic surplus generated at the allocatively efficient level of output.
A)$187.50; $62.50 less 
B)$125; $250 less 
C)$187.50; $187.50 less 
D)$125; $125 less 
E)$62.50; $125 less

Quizplus · Accepted Answer

At a disequilibrium price of $7.50, the total economic surplus is $187.50, which is $62.50 less than the surplus at the allocatively efficient level.

The Diagram Below Shows Supply,demand,and Quantity Exchanged of Monday Matinee