The diagram below shows supply, demand, and quantity exchanged of ...

[poopoo]

The diagram below shows supply, demand, and quantity exchanged of Monday matinee movie tickets. Assume it is a perfectly competitive market.



FIGURE 12-4

Refer to Figure 12-4. If a disequilibrium price of $7.50 per movie ticket were imposed on this market, this market would not be allocatively efficient because
1) the sum of consumer and producer surplus would not be maximized;
2) the marginal benefit to consumers of the last movie consumed would be greater than the marginal cost to the seller;
3) the marginal cost to the seller of the last movie consumed would be more than the marginal benefit to consumers.

◦ 1 only
◦ 2 only
◦ 3 only
◦ 1 and 2
◦ 2 and 3

[RodrickHac]

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[poopoo]

Excellent

[marict]

Thanks for the timely response, appreciate it