Table 7-5
Antonio's Pizza

-Based on Table 7-5, if Fred and Frieda are the only buyers in the pizza market and Antonio's is the only seller, what is the:
a. market equilibrium price?
b. market equilibrium quantity?
c. total consumer surplus at the market equilibrium?
d. total producer surplus at the market equilibrium?
e. total benefit to society of this market?

Question

Table 7-5
  Antonio's Pizza
 
-Based on Table 7-5, if Fred and Frieda are the only buyers in the pizza market and Antonio's is the only seller, what is the:
a. market equilibrium price?
b. market equilibrium quantity?
c. total consumer surplus at the market equilibrium?
d. total producer surplus at the market equilibrium?
e. total benefit to society of this market?

Quizplus · Accepted Answer

The Answer of Table 7-5
  Antonio's Pizza
 
-Based on Table 7-5, if Fred and Frieda are the only buyers in the pizza market and Antonio's is the only seller, what is the:
a. market equilibrium price?
b. market equilibrium quantity?
c. total consumer surplus at the market equilibrium?
d. total producer surplus at the market equilibrium?
e. total benefit to society of this market?

Table 7-5 Antonio's Pizza