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Author Question: Refer to Figure 4-3. What area represents consumer surplus at the equilibrium price of P1? A) A + ... (Read 75 times)

aabwk4

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on: Jun 29, 2018
Refer to Figure 4-3. What area represents consumer surplus at the equilibrium price of P1?
 
  A) A + B + C + D + E B) A + B + C C) D + E D) A

Question 2

If additional units of a good are produced at an increasing opportunity cost, the production possibilities frontier would be bowed outward (concave).
 
  Indicate whether the statement is true or false


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meltdown117

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

TRUE


aabwk4

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

alvinum

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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