41 The change in producer surplus as a result of the shift in the graph below is cqual to 1050 b. 1050 C 5000 O None of the above 90 25 75 100 125 The following Table is for answering questions 42 to 45 below: Output 6000 7200 TFC 2400 Input TVC TC MC 1200 6000 W. 2. Y 30 42. What is the value of W? a 1400 O 2400 2 1000 d. None of the above 44400 750 43 What is the value of X? a2200 b 4400 8400 Can't say, insulticient information 1750 11

41 The change in producer surplus as a result of the shift in the graph below is cqual to 1050 b. 1050 C 5000 O None of the above 90 25 75 100 125 The following Table is for answering questions 42 to 45 below: Output 6000 7200 TFC 2400 Input TVC TC MC 1200 6000 W. 2. Y 30 42. What is the value of W? a 1400 O 2400 2 1000 d. None of the above 44400 750 43 What is the value of X? a2200 b 4400 8400 Can't say, insulticient information 1750 11

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The graph represents the market for artichokes (in pounds per week) at a Midwest farmers' market. Suppose the equilibrium price of artichokes is $3 per pound and the equilibrium quantity is 100 pounds of artichokes per week. Using the graph, show the area representing consumer surplus in this market, and then determine how much consumer surplus will be generated by the market each week. Instructions: Use the tool provided 'CS' to illustrate this area on the graph. Consumer surplus: ? $ Please show me how to represent consumer surplus in the graph and how to find the consumer surplus. Please explain it. Thank you.
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1 The change in producer surplus as a result of the shift in the graph below is cqual to: 1050 b. 1050 C 5000 O None of the above S1 90 So 60 50 25 75 100 125
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