QUESTION 1 Refer to the information provided in Figure 4.6 below to answer the question(s) that follow. Equilibrium in this market occurs at the intersection of curves S and D. Price/unit P3 P2 P1 Figure 4.6 A G B E Ic F S D Quantity/time Refer to Figure 4.6. If price is P1, producer surplus is area О А. G. A + B + E. B + E + G.

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