Top Posters
Since Sunday
5
o
5
4
m
4
b
4
x
4
a
4
l
4
t
4
S
4
m
3
s
3
New Topic  
jugganuts jugganuts
wrote...
Posts: 132
Rep: 0 0
A year ago

The diagram below shows the market for some agricultural product, X.

Short description: A graph plots the quantity of X against the price of X. Long description: The horizontal axis representing the quantity of X in units per week ranges from 300 to 1800, in increments of 300. The vertical axis representing the price of X in dollars ranges from 1.00 to 6.00, in increments of 1.00. The graph plots two lines. A decreasing line representing D passes through the following points: (300, 5.00), (600, 4.00), (900, 3.00), (1200, 2.00), and (1500, 1.00). An increasing line representing S passes through the following points: (300, 1.00), (600, 2.00), (900, 3.00), (1200, 4.00), and (1500, 5.00). The two lines intersect at (900, 3.00).  Note: All values are approximate.

FIGURE 5-8

Refer to Figure 5-8. Assume the market for product X is at its free-market equilibrium. What is the weekly amount of producer surplus in this market?



▸ $450

▸ $1350

▸ $2700

▸ $1800

▸ $900
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 26 times
1 Reply
Replies
Answer verified by a subject expert
rangeliferangelife
wrote...
Posts: 114
Rep: 1 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

jugganuts Author
wrote...

A year ago
Thank you, thank you, thank you!
wrote...

Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
wrote...

2 hours ago
Good timing, thanks!
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  981 People Browsing
Related Images
  
 282
  
 151
  
 307
Your Opinion
Do you believe in global warming?
Votes: 370