Figure 5.3 Figure 5.3 shows the market for tiger shrimp.The market is initially in equilibrium at a price of $15 and a quantity of 80.Now suppose producers decide to cut output to 40 in order to raise the price to $18.
-Refer to Figure 5.3.The value of the deadweight loss at the equilibrium price of $15 is

Question

Figure 5.3  Figure 5.3 shows the market for tiger shrimp.The market is initially in equilibrium at a price of $15 and a quantity of 80.Now suppose producers decide to cut output to 40 in order to raise the price to $18.
-Refer to Figure 5.3.The value of the deadweight loss at the equilibrium price of $15 is

Quizplus · Accepted Answer

At the equilibrium price, there is no deadweight loss because the market is operating efficiently with supply equaling demand.

Figure 53 Figure 5