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

Question 7

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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 the price of pecans is $3, A) economic surplus is maximised. B) not enough consumers want to buy pecans. C) the quantity supplied is less than the economically efficient quantity. D) the quantity supplied is economically efficient, but the quantity demanded is economically inefficient.
-Refer to Figure 11.1.The figure above represents the market for pecans.Assume that this is a competitive market.If the price of pecans is $3,


A) economic surplus is maximised.
B) not enough consumers want to buy pecans.
C) the quantity supplied is less than the economically efficient quantity.
D) the quantity supplied is economically efficient, but the quantity demanded is economically inefficient.

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