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Figure 11.1 -Refer to Figure 11.1.The Figure Above Represents the Market for the Market

Question 1

Multiple Choice

Figure 11.1 Figure 11.1 -Refer to Figure 11.1.The figure above represents the market for pecans.Assume that this is a competitive market.If 4000 metrics 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 4000 metrics of pecans equals $3. D) marginal benefit is equal to marginal cost.
-Refer to Figure 11.1.The figure above represents the market for pecans.Assume that this is a competitive market.If 4000 metrics 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 4000 metrics of pecans equals $3.
D) marginal benefit is equal to marginal cost.

Correct Answer: