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Figure 4-4 -Refer to Figure 4-4.The Figure Above Represents the Market for Represents

Question 97

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Figure 4-4 -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,

Figure 4-4
Figure 4-4 -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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