The graph shows the schedule for hours of tutoring in economics. If the price increases from equilibrium at $10 to $15, total surplus for the market will decrease by, in numerals, $_____.
The graph shows the schedule for hours of tutoring in economics. If the price increases from equilibrium at $10 to $15, total surplus for the market will decrease by, in numerals, $_____.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
The graph shows the schedule for hours of tutoring in economics. If the price increases from equilibrium at $10 to $15, total surplus for the market will decrease by, in numerals, $_____.
Please type the correct answer in the following input field, and then select the submit answer button or press the enter key when finished.Your answer:
Transcribed Image Text:Price (per hour
of tutoring)
$25
20
15
10
7.50
2.50
D
100 200
300
400 500 600 700 800 900
Quantity (hours of tutoring per week)
LO
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