What is the dollar value of consumer surplus in this market?O a $2,250O b.$1,200O c. $3,000O d. $1,050Which area represents producer surplus in this market?O a. B+CO b. BO c. AO d. A+B For the questions that follow, refer to the supply and demand model below, with the shaded areas A, B, and C.price$85$50-$10ABC60SDquantity

Equilibrium in the market occurs at the intersection of demand and supply curves. Consumer surplus…

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What is the dollar value of consumer surplus O a. $2,250 O b. $1,200 O c. $3,000 O d. $1,050

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

What is the dollar value of consumer surplus in this market?
O a $2,250
O b.
$1,200
O c. $3,000
O d. $1,050
Which area represents producer surplus in this market?
O a. B+C
O b. B
O c. A
O d. A+B

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