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killerbear900 killerbear900
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Consider the following demand and supply curves in factor markets.

Short description: Four graphs plot quantity against dollars. Long description: The horizontal axis represents quantity. The vertical axis represents dollars. The first graph shows a decreasing line, D, and an increasing line, S, intersecting. The second graph shows two lines, S and D intersecting. S is a horizontal line and D is a decreasing line. The third graph shows two lines, S and D intersecting. S is a vertical line and D is a decreasing line. The fourth graph shows two lines, S and D intersecting.  S is an increasing line and D is a decreasing line.

FIGURE 13-4

Refer to Figure 13-4. Assume that all four factor markets are labour markets. The total amount paid to the workers is "transfer earnings" in diagram



▸ 1.

▸ 2.

▸ 3.

▸ 4.

▸ 1 or 4
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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herrooherroo
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