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Author Question: The demand and supply curves shown below apply to a competitive market for a factor used in the ... (Read 75 times)

mustachegiraffe

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on: Oct 12, 2022

The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets.



FIGURE 13-2

Refer to Figure 13-2. This factor market is in equilibrium at point B. Which of the following statements best describes factor payments at point B?


◦ Total income paid to the factor is $8.
◦ Total factor earnings are $320 and the 40th unit earns economic rent of $8.
◦ Total factor earnings are $320 and the 40th unit earns zero rent.
◦ Total of economic rent plus transfer earnings is $320.
◦ Economic rent to the 40th unit is $320.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by mustachegiraffe on Oct 12, 2022

athenaheim

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mustachegiraffe

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

komodo7

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

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