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Author Question: FIGURE 5-5Refer to Figure 5-5. At the market-clearing price and quantity of $30 per hour and 4000 ... (Read 115 times)

Facerro

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on: Oct 12, 2022




FIGURE 5-5

Refer to Figure 5-5. At the market-clearing price and quantity of $30 per hour and 4000 hours of gardening services purchased, the economic surplus is


◦ the sum of the areas above the supply curve, but below the market-clearing price of $30 - i.e., areas 3, 4, 7.
◦ the sum of the areas below the demand curve, but above the market-clearing price of $30 - i.e., areas 1, 2, 6.
◦ the sum of the areas above the supply curve and below the demand curve - i.e., areas 1, 2, 3, 4, 6, 7.
◦ the sum of the areas below the demand curve - i.e., areas 1, 2, 3, 4, 5, 6, 7, 8, 9.
◦ the sum of the areas below the demand curve, up to 4000 hours - i.e., areas 1, 2, 3, 4, 5, 6, 7, 8.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Facerro on Oct 12, 2022

leilani49

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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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Facerro

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

covalentbond

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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