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

question 15

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.If a disequilibrium price of $7.50 per movie ticket were imposed on this market,this market would not be allocatively efficient because 1) the sum of consumer and producer surplus would not be maximized;
2) the marginal benefit to consumers of the last movie consumed would be greater than the marginal cost to the seller;
3) the marginal cost to the seller of the last movie consumed would be more than the marginal benefit to consumers.

• A)1 only
• B)2 only
• C)3 only
• D)1 and 2
• E)2 and 3

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