At 10 million hours, what areas make up the total economic surplus in this market?

EBK HEALTH ECONOMICS AND POLICY
7th Edition
ISBN:9781337668279
Author:Henderson
Publisher:Henderson
Chapter12: Medicare
Section: Chapter Questions
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At 10 million hours, what areas make up the total economic surplus in this market? 

Consider the national market for in-home child care in the accompanying graph.
Rate
($ per hour)
$20
$16
$15
$14
$10
Supply
Demand
8
10
12
Quantity
(millions of hours)
This is the same graph but each distinct area gets is labeled with a letter.
Rate
($ per hour)
$20
A
$16
B
GK
$15
H
с
IM
$14
D
$10
E
Supply
Demand
8
10
12
Quantity
(millions of hours)
Transcribed Image Text:Consider the national market for in-home child care in the accompanying graph. Rate ($ per hour) $20 $16 $15 $14 $10 Supply Demand 8 10 12 Quantity (millions of hours) This is the same graph but each distinct area gets is labeled with a letter. Rate ($ per hour) $20 A $16 B GK $15 H с IM $14 D $10 E Supply Demand 8 10 12 Quantity (millions of hours)
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