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-Refer to Figure 14-1

Question 2

Multiple Choice

-Refer to Figure 14-1. The figure above represents the market for pecans. Assume that this is a competitive market. If 4000 pounds of pecans are sold, A) the deadweight loss is equal to $12 000. B) consumer surplus equals zero. C) the marginal benefit of each of the 4000 pounds of pecans equals $3. D) marginal benefit is equal to marginal cost.
-Refer to Figure 14-1. The figure above represents the market for pecans. Assume that this is a competitive market. If 4000 pounds of pecans are sold,


A) the deadweight loss is equal to $12 000.
B) consumer surplus equals zero.
C) the marginal benefit of each of the 4000 pounds of pecans equals $3.
D) marginal benefit is equal to marginal cost.

Correct Answer:

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