The figure illustrates the competitive market for cell phones.

a. What are the equilibrium price and equilibrium quantity of cell phones?
b. Shade in and label the consumer surplus at the competitive equilibrium.
c. Shade in and label the producer surplus at the competitive equilibrium.
d. Calculate total surplus at the competitive equilibrium.
e. Is the competitive market for cell phones efficient?

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60.00 45.00 30.00 よ 15.00 50 100 150 200 Quantity (cell phones per month)