What is the amount of consumer surplus?O 144 $O 144,000 $O 28,000 $O 12 $O 78,000 $ P[ 25(Pricedollarsper20unit)1262122820(Quantity: Thousand Units sold per week)Answer the following 3 questions according to information here and graph in this question:Graph shows that a competitive market creates an efficient allocation of resources atequilibrium. Which of the following pairs are equilibrium price and equilibrium quantityrespectively? ($ sign means dollars)12 $ and 12,000 unitsO 20 $ and 4 unitsO 25 $ and 28,000 unitsO 25 $ and 28 unitsO 12 $ and 28 units

Equilibrium is attained in the market where the demand and the supply are the same.

Answered: What is the amount of consumer surplus?

Business

Economics

What is the amount of consumer surplus?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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