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I need help with question 15,16,17 The graph below shows a market for pizza. Use the graph to answer questions 15-17. Price ($) $20 $18

I need help with question 15,16,17

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The graph below shows a market for pizza. Use the graph to answer questions 15-17. Price ($) $20 $18 Pizza $16 $14 Supply $12 $10 SS $6 Demand $2 so 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 5500 6000 6500 7000 7500 8000 8500 9000 9500 10000 Quantity 15. Why is it NOT economically efficient for the economy to produce 5,000 pizzas? a. Because the 4,001st to 5,000th pizzas do not generate any benefit for consumers. b. Because it is not possible for pizza companies to produce more than 4,000 pizzas. c. Because the Marginal Cost of producing the 4,001st to 5,000th pizzas are greater than Marginal Benefit consumers get from the 4,001st to 5,000th pizzas. d. Because the Marginal Cost of producing the 4,001st to 5,000th pizzas are less than Marginal Benefit consumers get from the 4,001st to 5,000th pizzas. 16. Why is it NOT economically efficient for the economy to produce only 3,000 pizzas? a. Because it is always economically efficient for the economy to produce goods the give consumers a positive Marginal Benefit. b. Because the Marginal Cost of producing the 3,00 1st to 4,000th pizzas are greater than Marginal Benefit consumers get from the 3,001st to 4,000th pizzas. c. Because the Marginal Cost of producing the 3,001st to 4,000th pizzas are less than Marginal Benefit consumers get from the 3,001st to 4,000th pizzas. 17. Which of the following would cause a deadweight loss in the market? (HINT: Recall the different between a binding and non-binding price control) i. A price floor at $12 per pizza. ii. A price floor at $8 per pizza. iii. A price ceiling at $12 per pizza. iv . A price ceiling at $8 per pizza. V. A $1 per pizza tax a. i. and iv. only b. i., iv., and v. only c. ii. and iii. only d. ii., iii, and v. only e. All of these will cause a deadweight loss

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