Question: Question T What are the correct terms for the square red area and then the triangular blue area in this diagram? Price of Corn $6.50


Question T What are the correct terms for the square red area and then the triangular blue area in this diagram? Price of Corn $6.50 Supply Consumer $6.00 Surplus $5.50 Minimum Price $5.00 $4.50 $4.00 Surplus $3.50 $3.00 Demand O 2 3 5 6 Quantity of Corn (in millions of bushels) producer surplus, consumer surplus O producer surplus, deadweight loss (consumer surplus: producer surplus consumer surplus, deadweight loss
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