Question 7 (1 point) Listen If the efficient level of trade is 3,200 units, Deadweight Loss would be positive if 1,775 units were traded More than one (perhaps all) of the above answers is correct O 3,201 units were traded O 2 units were tradedQuestion 8 (1 point) Listen Total social surplus is not maximized by engaging in all activities for which benefits are positive True False Question 9 (1 point) Saved Listen The value of social surplus does depend upon transaction price and transaction price plays no role in determining how social gains are split between buyer and seller. True O Falsepoint) ) Listen Bernie is running for the US Senate. A central theme of his campaign is that we need universal access to Good Y (i.e we should strive for 100% of the population being able to consume the good). He justifies this position by correctly noting that Total Benefits always increase when more people have a.jpg access to the good. Bernie's position provides an illustration of the open-ended fallacy Market Equilibrium is Zero-sum environment O the Principle of Comparative Advantage O