Figure 4-4 -Refer to Figure 4-4.The Figure Above Represents the Market for Represents

question 16

Multiple Choice

Figure 4-4

-Refer to Figure 4-4.The figure above represents the market for pecans.Assume that this is a competitive market.If 4,000 pounds 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 4,000 pounds of pecans equals $3.
• D)marginal benefit is equal to marginal cost.

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