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Assume that the market shown is perfectly competitive with no externalities. If the production output is 15,000 units, then total surplus is T + X

Assume that the market shown is perfectly competitive with no externalities. If the production output is 15,000 units, then

total surplus is T + X

deadweight loss is being minimized

deadweight loss is being maximized

there is a deadweight loss of U + W

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Price ($) S T $600 V W $400 X D 15,000 20,000 Quantity

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