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Author Question: Suppose a negatively sloped demand curve and a positively sloped supply curve intersect at a price ... (Read 92 times)

effaey

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on: Oct 12, 2022
Suppose a negatively sloped demand curve and a positively sloped supply curve intersect at a price and quantity combination of $100 and 600 units of the good. But suppose that producers actually produce and sell 610 units. What can we correctly say about market efficiency in this case?
◦ The production and consumption of the additional 10 units of the good increases total economic surplus and increases market efficiency.
◦ The value placed on the final 10 units of the good by consumers exceeds the additional costs associated with their production - this market is not efficient.
◦ The value placed on the final 10 units of the good by consumers is less than the additional costs associated with their production - this market is not efficient.
◦ This market is not efficient because quantity demanded for the good exceeds quantity supplied.
◦ This market is efficient because economic surplus is maximized as production and consumption increase simultaneously.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by effaey on Oct 12, 2022

nora9826

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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effaey

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Reply 2 on: Oct 12, 2022
Excellent

patma1981

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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