a.The economic value of the 5,000thunit is $_______, and the minimum price producers will accept to produce this unit is $ ________.

b.When 5,000 units are produced and consumed, total consumer surplus is $ ________, and total producer surplus is $ _________. Show your work/ calculations.

c.The net gain to society when 5,000 units are produced and consumed at the market price is $ __________, which is called ____________________________.

d.In market equilibrium, total consumer surplus is $ _________________, and the total producer surplus is $ ___________________. Show your work/ calculations.

e.The net gain to society created by this market is $ ___________________.

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