-Refer to Figure 14-1

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.