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Question: question 1 1 point suppose the market demand for a...

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Question 1 (1 point) Suppose the market demand for a certain good is represented by the equation MWTP-490- 0.25QD, and the market supply is given by MC 40 + 2QS. Assuming the absence of market failures, the socially efficient level of output equals_units. Question 2 (1 point) Suppose market demand for a certain good is represented by MwTP-490-0.25QD and the socially efficient price equals Question 3 (1 point) Suppose market demand for a certain good is represented by MWTP 490 0.25QD and the market supply is represented by the MC 40+2QS Consumer surplus when the market is in equilibrium will be equal to Question 4 (1 point) Suppose market demand for a certain good is represented by MWTP 490 0.25QD and the market supply is represented by the MC 40+2QS Producer surplus when the market is in equilibrium will be equal to Question 5 (1 point) Suppose market demand for a certain good is represented by MWTP 490-0.25QD and the market supply is represented by the MC 402QS. Also suppose that there are no external costs or external benefits associated with the production or consumption of this good. When this market is in equilibrium, net social value (social surplus) will be equal to

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