equations and economic surplus - Washtenaw Community College

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c) Calculate economic surplus. d) Draw a supply and demand diagram that illustrates these supply and demand curves. Graph paper is not necessary, but graphs should be approximately to scale. e) Unfortunately, concert promoters do not know in advance exactly what the equilibrium price will be. They have to guess. If the producer sets the ticket

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equations and economic surplus - Washtenaw Community College equations and economic surplus - Washtenaw Community College
c) Calculate economic surplus. d) Draw a supply and demand diagram that illustrates these supply and demand curves. Graph paper is not necessary, but graphs should be approximately to scale. e) Unfortunately, concert promoters do not know in advance exactly what the equilibrium price will be. They have to guess. If the producer sets the ticket
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