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Tidy Tidy
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Posts: 4852
8 years ago
Assume the market price for lemon grass is $4.00 per pound, but most buyers are willing to pay more than the market price. At the market price of $4.00, the quantity of lemon grass demanded is 1,500 pounds per month, and quantity demanded does not reach zero until the price reaches $30.00 per pound. Construct a graph showing this data, calculate the total consumer surplus in the market for lemon grass, and show the consumer surplus on the graph.
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
Authors:
Read 357 times
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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face
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SydnieSydnie
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8 years ago
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Tidy Author
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8 years ago
Just got PERFECT on my quiz
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this is exactly what I needed
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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