Consider the market represented in Figure 5P-4. a. Calculate total surplus when supply is S1. b. Calculate

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Consider the market represented in Figure 5P-4.

a. Calculate total surplus when supply is S1.
b. Calculate total surplus when supply increases to S2.

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Microeconomics

ISBN: 978-1259163531

1st edition

Authors: Dean Karlan, Jonathan Morduch

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Question Posted: Nov 27, 2015 02:11 AM

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Consider the market represented in Figure 5P-4. a. Calculate total surplus when supply is S1. b. Calculate

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Price ($) 50 40 35 / 15 50 75 100 Quantity

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Microeconomics

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