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Figure 7-14 -Refer to Figure 7-14. Suppose the Willingness to Pay of to Pay

question 69

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Figure 7-14 Figure 7-14 -Refer to Figure 7-14. Suppose the willingness to pay of the marginal buyer of the 3<sup>rd</sup> unit is $225. Then total surplus is maximized if A) 1 unit of the good is produced and sold. B) 2 units of the good are produced and sold. C) 3 units of the good are produced and sold. D) 4 units of the good are produced and sold.
-Refer to Figure 7-14. Suppose the willingness to pay of the marginal buyer of the 3rd unit is $225. Then total surplus is maximized if

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