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Price Sellers Quantity Supplied
$400 or more ________________ ________
300 to 400 ________________ ________
200 to 300 ________________ ________
100 to 200 ________________ ________
Less than $100 ________________ ________
b. Use the information in Table C to graph a supply curve for this product.
43. Explain why the graph shown verifies the fact that the market equilibrium (quantity) maximizes the sum of producer and consumer surplus.
44. What are the economic arguments in favor of allowing ticket scalping? Explain briefly the whole story if you wish.
45. Define please following economic terms: Welfare economics, willingness to pay, consumer surplus, producer surplus, efficiency, equity.
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| Chapter 6 | | | Понятие и виды защиты. Субъекты, осуществляющие защиту. |