a. Draw a graph of the market for streaming music when the price is $15 a month.
Question:
a. Draw a graph of the market for streaming music when the price is $15 a month. On your graph, show consumer surplus and producer surplus.
b. With a price of $15 a month, is the market efficient or inefficient? If it is inefficient, show the deadweight loss on your graph.
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1a As the platform isnt suited for drawing graphs I will try to guide you on how you can draw the graph Firstly youll need two axis where the yaxis re...View the full answer
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