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

Question 14

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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 $9, A) economic surplus is maximised. B) too many consumers want to buy pecans. C) the quantity supplied is greater than the economically efficient quantity. D) the quantity demanded is economically efficient, but the quantity supplied 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 $9,


A) economic surplus is maximised.
B) too many consumers want to buy pecans.
C) the quantity supplied is greater than the economically efficient quantity.
D) the quantity demanded is economically efficient, but the quantity supplied is economically inefficient.

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