Review the graph at right for a competitive market How much is the consumer surplus? Consumer surplus is $x (round your answer to two decimal places). How much is the producer surplus? Producer surplus is $x (round your answer to two decimal places) How much is the total surplus in this market? Total surplus is $x (round your answer to two decimal places). 100- 90- 80- 70-4 60- 50-45 40 30- 20- 10- Price 0 45 50 60 70 80 Quantity 10 20 30 40 MC D 90 100

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Review the graph at right for a competitive market
How much is the consumer surplus?
Consumer surplus is $x (round your answer to two decimal places).
How much is the producer surplus?
Producer surplus is $x (round your answer to two decimal places)
How much is the total surplus in this market?
Total surplus is $x (round your answer to two decimal places).
100-
90-
80-
70-4
60-
50-145
40-
30-
20-
10-
Price
0
45
50 60 70 80
Quantity
10 20 30 40
D
MC
90 100
Transcribed Image Text:Review the graph at right for a competitive market How much is the consumer surplus? Consumer surplus is $x (round your answer to two decimal places). How much is the producer surplus? Producer surplus is $x (round your answer to two decimal places) How much is the total surplus in this market? Total surplus is $x (round your answer to two decimal places). 100- 90- 80- 70-4 60- 50-145 40- 30- 20- 10- Price 0 45 50 60 70 80 Quantity 10 20 30 40 D MC 90 100
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