(Solved): Alter the graph and use the insights to answer the questions. a. As the actual market quantity incr ...

Alter the graph and use the insights to answer the questions. a. As the actual market quantity increases past the efficient quantity, what is true? Economic surplus is maximized. The marginal benefit of each additional transaction exceeds the marginal cost. Some of the previous economic surplus gained is offset by the deadweight loss The marginal cost of each additional transaction exceeds the marginal benefit. b. What is the significance of price in any assessment of economic surplus? Price determines how the surplis is distributed between buyers and sellers. Price determines deadweight loss. A change in price shifts the curves, and thus shifts economic surplus. Price determines total economic surplus.