homework 3 completed courseECON 1014 due date points type Which of the following statements about equilibrium are TRUE? I. At equilibrium, gains from trade are maximized. II. At equilibrium, deadweight loss is minimized. III. At equilibrium, buyers value the good less than non-buyers. IV. At equilibrium, sellers have higher costs than non-seller
Use the market below to answer the following questions What is the equilibrium price $____ and quantity in this market?
At equilibrium what are the producer surplus?
