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Supply and Demand: End of Chapter Problem lan Learning Using the following diagram, identify and calculate total producer surplus if the price of oil is $50 per barrel. @ Macmil Price of oil per barrel Supply of oil $60 Producer surplus: $ 50 40 20 5 20 40 60 Quantity of oil (MBD)Supply and Demand: End of Chapter Problem @ Macmillan Learning For most young people, working full-time and going to school are substitutes: You tend to do one or the other. When it's tough to find a job, does that raise the opportunity cost of going to college or does it lower it? When it's tough to find a job, does the demand for college rise or fall? When it is tough to find a job, the opportunity cost of college and the demand for college goesd Demand: End of Chapter Problem ightBright and Bulbs4 You were the only two suppliers of lightbulbs in Springfield. Plot the points for the supply the lightbulb industry in Springfield from the following table for the two companies. Bulbs Supplied By Priceyl Bulbs Supplied By Lightbright Bulbs4 You $1 10 15 $5 15 7 $7 25 15 $10 35 20 Price per lightbull 13 10 15 20 25 30 35 40 45 50 55 Quantity of lightbulbs Q SearchSupply and Demand: End of Chapter Problem Suppose LightBright and Bulbs4 You were the only two suppliers of lightbulbs in Springfield. Plot the points for the supply Macmillan Learning curve for the lightbulb industry in Springfield from the following table for the two companies. Bulbs Supplied By Bulbs Supplied By Price Lightbright Bulbs4You $1 10 5 9 15 $7 25 15 Co $10 35 20 Price per lightbulb N 14 10 15 20 25 30 35 40 45 50 55 Quantity of lightbulbs Q SearchSupply and Demand: End of Chapter Problem Suppose LightBright and Bulbs4 You were the only two suppliers of lightbulbs in Springfield. Plot the points for the supply Macmillan Learning curve for the lightbulb industry in Springfield from the following table for the two companies. Bulbs Supplied By Price Bulbs Supplied By Lightbright Bulbs4You $1 10 5 15 1557 25 15 Co $10 35 20 Price per lightbulb 10 5 10 15 20 25 30 0 35 40 45 50 55 Quantity of lightbulbs Q SearchSupply and Demand: End of Chapter Problem Suppose LightBright and Bulbs4You were the only two suppliers of lightbulbs in Springfield. Plot the points for the supply Macmillan Learning curve for the lightbulb industry in Springfield from the following table for the two companies. Bulbs Supplied By Price, Bulbs Supplied By Lightbright Bulbs4You 10 10 $1 10 $5 15 $7 25 15 Co $10 35 20 Price per lightbulb N O 8 10 15 20 25 30 40 45 50 55 Quantity of lightbulbs Q SearchMG_2704.jpg (2268x4032) X Supply and Demand: End of Chapter Problem For most young people, working full-time and going to school are substitutes: You tend to do one or the other. When it's tough to find a job, does that raise the opportunity cost of going to college or does it lower it? When it's tough to find a job, does the Macm demand for college rise or fall? When it is tough to find a job, the opportunity cost of college and the demand for college goes rises falls Q Snaich2704.jpg (2268x4032) X + Supply and Demand: End of Chapter Problem For most young people, working full-time and going to school are substitutes: You tend to do one or the other. When it's tough to find a job, does that raise the opportunity cost of going to college or does it lower it? When it's tough to find a job, does the demand for college rise or fall? When it is tough to find a job, the opportunity cost of college and the demand for college goes down O