The accompanying graph shows the demand and supply of dorm-room-sized fridges sold in Collegetown per semester. At

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The accompanying graph shows the demand and supply of dorm-room-sized fridges sold in Collegetown per semester. At equilibrium, producer surplus is________ per semester.

a. 1/2* 1600 * $60 = $48,000

b. 1/2* 1600 * $20 = $16,000

c. 1/2* 1600 * $40 = $32,000

d. $40 *1600 = $64,000

e. Unknown, since the price of fridges is unknown

Quantity (number of fridges per semester) 400 800 1200 1600 2000 2400 2800 3200 3600 4000 10 Price ($ per

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Introduction To Economics Social Issues And Economic Thinking

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1st Edition

Authors: Wendy A. Stock

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Question Posted: Oct 28, 2023 06:54 AM

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The accompanying graph shows the demand and supply of dorm-room-sized fridges sold in Collegetown per semester. At

Question:

Quantity (number of fridges per semester) 400 800 1200 1600 2000 2400 2800 3200 3600 4000 10 Price ($ per fridge) D

Step by Step Answer:

The producer surplus is the difference between the price at ...View the full answer

Introduction To Economics Social Issues And Economic Thinking

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