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Author Question: Consider a market that is in equilibrium with a market-clearing price.Economic surplusis shown by (Read 62 times)

acwiles

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on: Oct 12, 2022

Question 1

Geoff is willing to pay $13 for a sixth entrance to a mountain bike park. The market price for entrance is $10.50. The bike park is willing to accept $8.75. The total economic surplus generated from Geoff's sixth trip to the bike park is
◦ $10.50.
◦ $1.75.
◦ $2.50.
◦ $4.25.
◦ $13.00.

Question 2

Consider a market that is in equilibrium with a market-clearing price. Economic surplus is shown by
◦ the area that is both below the demand curve and above the supply curve.
◦ the area below the supply curve up to the equilibrium quantity and below the demand curve beyond the equilibrium quantity.
◦ the area that is both above the demand curve and below the supply curve.
◦ the area to the right of the market-clearing price and quantity.
◦ the intersection of the supply and demand curves.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by acwiles on Oct 12, 2022

JulianneMu

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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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acwiles

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

kishoreddi

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Reply 3 on: Yesterday
Wow, this really help

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