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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
Price ($) S T $600 V W $400 X D 15,000 20,000 QuantityStep by Step Solution
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