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-Refer to Figure 4-4

Question 20

Multiple Choice

-Refer to Figure 4-4. The figure above represents the market for pecans. Assume that this is a competitive market. If 4,000 pounds of pecans are sold A) the deadweight loss is equal to $12,000. B) consumer surplus equals zero. C) the marginal benefit of each of the 4,000 pounds of pecans equals $3. D) marginal benefit is equal to marginal cost.
-Refer to Figure 4-4. The figure above represents the market for pecans. Assume that this is a competitive market. If 4,000 pounds of pecans are sold


A) the deadweight loss is equal to $12,000.
B) consumer surplus equals zero.
C) the marginal benefit of each of the 4,000 pounds of pecans equals $3.
D) marginal benefit is equal to marginal cost.

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