Graph 7-5 -In Graph 7-5, at the quantity Q₂: A) the market is in equilibrium B) willingness to pay is greater than willingness to sell C) consumer surplus plus producer surplus is maximised D) willingness to pay is less than willingness to sell

Question

Quizplus · Accepted Answer

At quantity Q2, willingness to pay is greater than willingness to sell, indicating that the price buyers are willing to pay exceeds the price sellers are willing to accept, leading to a potential for increased trade.

Graph 7-5 -In Graph 7-5, at the Quantity Q2

Graph 7-5 -In Graph 7-5, at the Quantity Q₂