Exploring Economics
8th Edition
ISBN: 9781544363356
Author: Robert L. Sexton
Publisher: Sage Publications
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Chapter 21, Problem 12P
To determine
To explain:
The reason behind building home is considered an important factor in crisis.
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Producer Surplus, PS
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Legend
●Demand
● Supply
Price
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Tons of Wheat (in thousands)
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a. Indicate the consumer surplus if the market is in equilibrium.
Instructions: Use the tool provided "Consumer Surplus, CS" to shade in the consumer surplus area on the graph.
b. Indicate the producer surplus if the market is in equilibrium.
Instructions: Use the tool provided "Producer Surplus, PS" to shade in the producer surplus area on the graph.
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