Instructions: Round your answers to two decimal places.
a. What is the dollar value of the total surplus (= producer surplus+ consumer surplus) when the allocatively efficient output level is
produced?
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What is the dollar value of the consumer surplus at that output level?
b.What is the dollar value of the deadweight loss when output level Q2 is produced?
What is the total surplus when output level Q2 is produced?
c.What is the dollar value of the deadweight loss when output level Q3 is produced?
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What is the dollar value of the total surplus when output level Q3 is produced?