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-In the Above Figure, If the Price Is $1

Question 9

Multiple Choice

-In the above figure, if the price is $1.25 per gallon of milk and 5 million gallons are produced and consumed, then the consumer surplus is ________ and the producer surplus is ________. A) $3.125 million; $3.125 million B) $12.5 million; $12.5 million C) $6.25 million; $6.25 million D) None of the above answers are correct.
-In the above figure, if the price is $1.25 per gallon of milk and 5 million gallons are produced and consumed, then the consumer surplus is ________ and the producer surplus is ________.


A) $3.125 million; $3.125 million
B) $12.5 million; $12.5 million
C) $6.25 million; $6.25 million
D) None of the above answers are correct.

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