Homework answers / question archive / Consider the market for some product X that is represented in the accompanying demand-and-supply diagram

Consider the market for some product X that is represented in the accompanying demand-and-supply diagram

Economics

Share With

Consider the market for some product X that is represented in the accompanying demand-and-supply diagram. 95.00 85.00- a. Calculate the total economic surplus in this market at the free-market equilibrium price and quantity. 75.00 ? 65.00+ -- The total economic surplus is $ per day. (Round your response to the nearest cent as needed.) S 55.00- I Price ($) 45.00+ 35.00- I 1 25.00- 1 HID 15.00- D 5.00 0 15 5 1 + + + 30 45 60 75 Quantity (units per day) 90 105