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Using the graph above, indicate which areas on the graph represent consumer surplus and producer surplus, when the market is at equilibrium.(write the letters representing

Using the graph above, indicate which areas on the graph represent consumer surplus and producer surplus, when the market is at equilibrium.(write the letters representing the relevant areas)Is this an economically efficient outcome? Why?

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Rent (Dollars per month) $500 450 400 350 300 250 Rent (dollars per month P2 P1 QUANTITY DEMANDED 5,000 10,000 15,000 20,000 25,000 30,000 0.1 QUANTITY SUPPLIED 40,000 30,000 25,000 20,000 15,000 10,000 Rent control Quantity of rented housing

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