The graph shows the market for walnuts. The govemment sets a production quota at

Question

The graph shows the market for walnuts. The govemment sets a production quota at 2 billion pounds a year Price (dolars per pound) with the production quota, te quantity of wainuts bought rd soldisMm ponds a year.ardthe price of a pondofwahutsn$ The market fot wants with the proacton quotas___ because-_ O A. inefhicient, at the quantity produced, marginal cost is less than marginal O B. efficient, total beneit is maximized O c. efficient, sufficient walnuts are groduced to satioly market demand D. etcert gowers benefit from the price support Quantity ons of ounds per 01/15/18 Cack to sesect your answests 11. 55pm 01151 ASSESS Chaper aaz 1 5pm F10 nsertHome

Explanation / Answer

Ans
At the equilibrium of supply and demand the

ans. c

At the equilibrium point of suppy and demand the market for walnuts with the production quota is efficient because sufficient are produced to satisfy market demand

ans. c

At the equilibrium point of suppy and demand the market for walnuts with the production quota is efficient because sufficient are produced to satisfy market demand

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