Use the linear demand and supply curves shown below to answer the following questions:

a. The market or equilibrium price is $___________.b. The economic value of the 2,000th unit is $ ___________, and the minimum price producers will accept to produce this unit is $___________.c. When 2,000 units are produced and consumed, total consumer surplus is $___________, and total producer surplus is $___________.d. At the market price in part a, the net gain to consumers when 2,000 units are purchased is $___________.e. At the market price in part a, the net gain to producers when they supply 2,000 units is $___________.f. The net gain to society when 2,000 units are produced and consumed at the market price is $___________, which is called___________ .

g. In market equilibrium, total consumer surplus is $___________ , and the total producer surplus is $___________ .h. The net gain to society created by this market is $___________ .

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A P 25 22.5 20 D 15 12.5 10- 50 Qdi 1,000 2,000 3,000 4,000 5,000 Quantity Price (dollars)