a.(3 points)The economic value of the 5,000^thunit is $_______, and the minimum price producers will accept to produce this unit is $ ________.

b. (3 points)When 5,000 units are produced and consumed, total consumer surplus is $ ________, and total producer surplus is $ _________. Show your work/ calculations.

c. (4 points)The net gain to society when 5,000 units are produced and consumed at the market price is $ __________, which is called ____________________________.

d. (4 points)In market equilibrium, total consumer surplus is $ _________________, and the total producer surplus is $ ___________________. Show your work/ calculations.

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