HW chap 14-3

8 cwhatisaggregatesurplusatthisequilibrium 16

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Unformatted text preview: t is producer surplus at the competitive market equilibrium? $8 . c. What is aggregate surplus at this equilibrium? $16 . rev: 18_11_2013_QC_40355 Worksheet Section: Measuring Surplus Using Market Demand and Supply Curves The market demand function for corn is Qd = 21 ­ 4P The market supply function is QS = 4P ­ 5 http://e z to.mhe c loud.mc gr a w- hill.c om/hm.tpx? todo= pr intvie wSingle 1/2 1/21/2014 Assignme nt Pr int Vie w both quantities measured in billions of bushels per year. Instructions: Round all quantities to the nearest wh...
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