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Unformatted text preview: 2Q at Texas A&M (where Q is measured in 10,000s per semester). a. Graph the market for used textbooks. What is the equilibrium price and quantity? b. Calculate and graph (above) consumer surplus, producer surplus, and total economic surplus. What is the most that consumers and producers together would be willing to pay for the right to be able to buy and sell used textbooks?...
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This note was uploaded on 02/20/2012 for the course ECON 202 taught by Professor Brightwell during the Spring '08 term at Texas A&M.
- Spring '08