The supply and demand curves of a product are shown in Figure 6.13. Approximate the difference in the total gains from trade if the price is artificially increased from the equilibrium price of p-95 to p - 110.punt2001801601401208888881008060402050(a) $137.50(b) $3,250(c) $4,675(6) $4,750100150Figure 6.13(4) $7862.50() $6000200Click if you would like to show Work for this question: Doen Show Work9thBy accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor0ViewSonicQuestion Attempts: 0 of 3 usedEarn Maximum Points availableanswer this question correctly

Equilibrium price = 95 Equilibrium quantity = 100 New price = 110

me supply and demand curves of a product are shown in Figure 6.13. Approximate the difference in the total gains from trade if the price is artificially increased from the equilibrium price of p-95 to p-110. 200 180 100 140 120 100 18888 20 50 100 150 200 Fig.13 (a) $137.50 (b) $3,250 (0) $4,675 (6) $4,750 () $7862.50 y

me supply and demand curves of a product are shown in Figure 6.13. Approximate the difference in the total gains from trade if the price is artificially increased from the equilibrium price of p-95 to p-110. 200 180 100 140 120 100 18888 20 50 100 150 200 Fig.13 (a) $137.50 (b) $3,250 (0) $4,675 (6) $4,750 () $7862.50 y

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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