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

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.Which of the following is true?

A) If the price of pecans is $3 the output will be economically efficient but there will be a deadweight loss.
B) If the price of pecans is $9 consumers will purchase more than the economically efficient output.
C) Both 4,000 pounds and 12,000 pounds are economically inefficient rates of output.
D) If the price of pecans is $3 producers will sell 12,000 pounds of pecans, but this output will be economically inefficient.