integration-hub.macmillanlearning.com HW4: Homework - Ch. 4: Equilibrium: How Su... + P Integration Hub Integration Hub Due: Sun, Feb 9 Resources Solution Penalized ? Hint Submit Answer KY < +722 pts /1300 de < Question 7 of 13 > n. ch + Attempt 2 The accompanying diagram represents the market for violins. Suppose that a new technology allows beginner-level violin producers to make violins at a substantially lower marginal cost while retaining the same quality. This causes the market supply curve to increase from $1 to $2. a. Place the area labeled CS to represent the new consumer surplus in the market and the area labeld PS to represent the new producer surplus in the market. hillan Learni Market for violins 300 +88 $1 $2 possible 270 CS PS 240 +95 possible 210 180 +98 possible 4 Price per violin 150 120 80 a BE F3 F4 6 F5 4 % 5 6 R L T Fb F7 A ཟུམྨེ DII F8 7 Y U 80* DD 8 F9 61 ( ) 9 0 -1 0 F10 NA P | 1 + 11 F12 delete integration-hub.macmillanlearning.com BLINN LHW4: Homework - Ch. 4: Equilibrium: How Su... Integration Hub Integration Hub Due: Sun, Feb 9 Resources Solution Penalized Hint Submit Answer Attempt 2 +722 pts Lions < /1300 Hide uestion. The accompanying diagram represents the market for violins. rect on each ns after ion. resources. Suppose that a new technology allows beginner-level violin producers to make violins at a substantially lower marginal cost while retaining the same quality. This causes the market supply curve to increase from $1 to $2. a. Place the area labeled CS to represent the new consumer surplus in the market and the area labeld PS to represent the new producer surplus in the market. Market for violins 300 +88 possible $1 $2 CS 270 PS 240 +95 210 possible +98 possible Price per violin 180 送 150 120 35 V 80 a 8888 F2 F3 $ 54 #3 E لنا F4 % 55 F5 < F7 6 & 27 7 8 * 0 R T Y U F8 = ㅁ F9 F10 F11 F12 DD 중요 ( 9 -1 10 O D F G H J K L P + 11 1 " delete
integration-hub.macmillanlearning.com HW4: Homework - Ch. 4: Equilibrium: How Su... + P Integration Hub Integration Hub Due: Sun, Feb 9 Resources Solution Penalized ? Hint Submit Answer KY < +722 pts /1300 de < Question 7 of 13 > n. ch + Attempt 2 The accompanying diagram represents the market for violins. Suppose that a new technology allows beginner-level violin producers to make violins at a substantially lower marginal cost while retaining the same quality. This causes the market supply curve to increase from $1 to $2. a. Place the area labeled CS to represent the new consumer surplus in the market and the area labeld PS to represent the new producer surplus in the market. hillan Learni Market for violins 300 +88 $1 $2 possible 270 CS PS 240 +95 possible 210 180 +98 possible 4 Price per violin 150 120 80 a BE F3 F4 6 F5 4 % 5 6 R L T Fb F7 A ཟུམྨེ DII F8 7 Y U 80* DD 8 F9 61 ( ) 9 0 -1 0 F10 NA P | 1 + 11 F12 delete integration-hub.macmillanlearning.com BLINN LHW4: Homework - Ch. 4: Equilibrium: How Su... Integration Hub Integration Hub Due: Sun, Feb 9 Resources Solution Penalized Hint Submit Answer Attempt 2 +722 pts Lions < /1300 Hide uestion. The accompanying diagram represents the market for violins. rect on each ns after ion. resources. Suppose that a new technology allows beginner-level violin producers to make violins at a substantially lower marginal cost while retaining the same quality. This causes the market supply curve to increase from $1 to $2. a. Place the area labeled CS to represent the new consumer surplus in the market and the area labeld PS to represent the new producer surplus in the market. Market for violins 300 +88 possible $1 $2 CS 270 PS 240 +95 210 possible +98 possible Price per violin 180 送 150 120 35 V 80 a 8888 F2 F3 $ 54 #3 E لنا F4 % 55 F5 < F7 6 & 27 7 8 * 0 R T Y U F8 = ㅁ F9 F10 F11 F12 DD 중요 ( 9 -1 10 O D F G H J K L P + 11 1 " delete
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 12RQ: Why is a production possibilities frontier typically drawn as a curve, rather than a straight line?
Related questions
Question
Place the labeled CS to represent the new consumer surplus in the market and the area labeled PS to represent producer surplus
Transcribed Image Text:integration-hub.macmillanlearning.com
HW4: Homework - Ch. 4: Equilibrium: How Su...
+ P
Integration Hub
Integration Hub
Due: Sun, Feb 9
Resources
Solution
Penalized
? Hint
Submit Answer
KY
<
+722 pts
/1300
de
<
Question 7 of 13
>
n.
ch
+
Attempt 2
The accompanying diagram represents the market for violins.
Suppose that a new technology allows beginner-level violin producers to make violins at a substantially lower marginal cost
while retaining the same quality. This causes the market supply curve to increase from $1 to $2.
a. Place the area labeled CS to represent the new consumer surplus in the market and the area labeld PS to represent the new
producer surplus in the market.
hillan Learni
Market for violins
300
+88
$1
$2
possible
270
CS
PS
240
+95
possible
210
180
+98
possible
4
Price per violin
150
120
80
a
BE
F3
F4
6
F5
4
%
5
6
R
L
T
Fb
F7
A
ཟུམྨེ
DII
F8
7
Y
U
80*
DD
8
F9
61
(
)
9
0
-1
0
F10
NA
P
| 1
+ 11
F12
delete
Transcribed Image Text:integration-hub.macmillanlearning.com
BLINN
LHW4: Homework - Ch. 4: Equilibrium: How Su...
Integration Hub
Integration Hub
Due: Sun, Feb 9
Resources
Solution
Penalized
Hint
Submit Answer
Attempt 2
+722 pts
Lions <
/1300
Hide
<Question 7 of 13
>
uestion.
The accompanying diagram represents the market for violins.
rect
on each
ns after
ion.
resources.
Suppose that a new technology allows beginner-level violin producers to make violins at a substantially lower marginal cost
while retaining the same quality. This causes the market supply curve to increase from $1 to $2.
a. Place the area labeled CS to represent the new consumer surplus in the market and the area labeld PS to represent the new
producer surplus in the market.
Market for violins
300
+88
possible
$1
$2
CS
270
PS
240
+95
210
possible
+98
possible
Price per violin
180
送 150
120
35
V
80
a
8888
F2
F3
$
54
#3
E
لنا
F4
%
55
F5
<
F7
6
&
27
7
8
* 0
R
T
Y
U
F8
=
ㅁ
F9
F10
F11
F12
DD
중요
(
9
-1
10
O
D
F
G
H
J
K
L
P
+ 11
1
"
delete
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