Refer to figure 7-24. If 6 units of the good are produced and sold, then:

a. consumer surplus is greater than producer surplus
b. producer surplus is maximized.
c. the sum of consumer surplus and producer surplus is maximized.
d. consumer surplus equals producer surplus.

Question

Refer to figure 7-24. If 6 units of the good are produced and sold, then:

a. consumer surplus is greater than producer surplus
b. producer surplus is maximized.
c. the sum of consumer surplus and producer surplus is maximized.
d. consumer surplus equals producer surplus.

Refer to figure 7-24. If 6 units of the good are produced and sold, then:

a. consumer surplus is greater than producer surplus

b. producer surplus is maximized.

c. the sum of consumer surplus and producer surplus is maximized.

d. consumer surplus equals producer surplus.

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Refer to figure 7-24. If 6 units of the good are produced and sold, then: a. consumer surplus is greater than producer surplus b. producer surplus is maximized. c. the sum of consumer surplus and producer surplus is maximized. d. consumer surplus equals producer surplus.