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Consider the following demand and supply configuration where demand and supply at each price is total demand/supply at those prices. Demand Supply Price Quantity Price

Consider the following demand and supply configuration where demand and supply at each price is total demand/supply at those prices.

Demand Supply
Price Quantity Price Quantity
11 1 1 2
10 2 2 3
8 4 3 5
7 5 4 6
6 6 5 8
5 8 7 10
4 9 10 11
2 10

Determine the competitive equilibrium price and quantity Price ____________ Quantity ________________

At the competitive equilibrium: Consumer surplus is ___________. Producer surplus is _________________

If producers in this market were consolidated into a single firm then the monopoly price would be _______and quantity would be___________. Economic efficiency would be ___________.

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