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https://mylo.utas.edu.au/content/enforced/633451-AW_BBB_24A1_34367_0_0_0_1_5/ppg/hubbard%203e%20-%20ch11.1%200315190040/f1q6g1.jpgRefer to Figure 11-1. The figure above represents the market for pecans. Assume that this is a competitive market. If the price of pecans is

https://mylo.utas.edu.au/content/enforced/633451-AW_BBB_24A1_34367_0_0_0_1_5/ppg/hubbard%203e%20-%20ch11.1%200315190040/f1q6g1.jpgRefer to Figure 11-1. The figure above represents the market for pecans. Assume that this is a competitive market. If the price of pecans is $3, Question 3 options: the quantity supplied is economically efficient, but the quantity demanded is economically inefficient. not enough consumers want to buy pecans. economic surplus is maximised. the quantity supplied is less than the economically efficient quantity

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