-Refer to Figure 14-1

question 60

Multiple Choice

-Refer to Figure 14-1. The figure above represents the market for pecans. Assume that this is a competitive market. If 8000 pounds of pecans are sold,

• A) the deadweight loss is equal to economic surplus.
• B) producer surplus equals consumer surplus.
• C) the marginal benefit of each of the 8000 pounds of pecans equals $9.
• D) marginal benefit is equal to marginal cost.

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