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Author Question: Refer to Figure 4-2. What area represents the increase in producer surplus when the market price ... (Read 72 times)

plus1

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on: Jun 29, 2018
Refer to Figure 4-2. What area represents the increase in producer surplus when the market price rises from P1 to P2?
 
  A) B + D B) A + B C) A + C + E D) C + E

Question 2

The demand for labor curve shows the relationship between _________.
 
  A. the quantity of labor employed and firms' profits
  B. all households' willingness to work and the real wage rate
  C. the quantity of labor businesses are willing to hire and the real wage rate
  D. the labor force and the real wage rate


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vboyd24

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

B

Answer to Question 2

C Answer C is the definition of the demand for labor curve.


plus1

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Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

olderstudent

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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