Question: Use the graphic below to specify which statement is true. Select one: a. The total surplus at equilibrium is equal to 300 and it is

Use the graphic below to specify which statement is true.

Select one:

a. The total surplus at equilibrium is equal to 300 and it is efficient.

b. The total surplus at equilibrium is equal to 150 and it is not efficient.

c. A price floor of 40 is not binding.

d. A price ceiling of 40 is not binding.

Use the graphic below to specify which statement is true, 50 S 45 40 35 30 25 20 15 D 10 5 0 0 5 10 15 20 25 Q Select one: O a. The total surplus at equilibrium is equal to 300 and it is efficient b. The total surplus at equilibrium is equal to 150 and it is not efficient. c. A price floor of 40 is not binding. d. A price ceiling of 40 is not binding. O

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