EBK MICROECONOMICS
EBK MICROECONOMICS
2nd Edition
ISBN: 8220103679701
Author: List
Publisher: YUZU
Question
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Chapter 7, Problem 4P

(a)

To determine

The equilibrium price is $40,000.

(b)

To determine

Firms that will maximize social surplus.

(c)

To determine

Consumers whose purchase will maximize social surplus.

(d)

To determine

The consumer, producer, and social surplus at the equilibrium price.

(e)

To determine

The differences in the result of this question from the previous one.

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