The Diagram Below Shows Supply,demand,and Quantity Exchanged of Monday Matinee

question 115

Multiple Choice

The diagram below shows supply,demand,and quantity exchanged of Monday matinee movie tickets.Assume it is a perfectly competitive market. FIGURE 12-4
-Refer to Figure 12-4.Suppose a disequilibrium price of $7.50 per movie ticket is imposed on this market.The total economic surplus is now ________,which is ________ than the total economic surplus generated at the allocatively efficient level of output.

• A)$125; $250 less
• B)$125; $125 less
• C)$187.50; $62.50 less
• D)$62.50; $125 less
• E)$187.50; $187.50 less

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