Demand in the apricot market can be expressed as P=100-Q.Further,the supply function in the apricot industry is P=10+Q.If a social planner specifies that 30 units be produced,is that level of production efficient? Can you propose a more efficient level of production? Explain why your proposed level is better than that of the social planner.

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The Answer of Demand in the apricot market can be expressed as P=100-Q.Further,the supply function in the apricot industry is P=10+Q.If a social planner specifies that 30 units be produced,is that level of production efficient? Can you propose a more efficient level of production? Explain why your proposed level is better than that of the social planner.

Demand in the Apricot Market Can Be Expressed as P=100-Q