5. Refer to the figure.
The graph represents the market for artichokes (in pounds per week) at a Midwest farmers' market.Suppose the equilibrium price of artichokes is $3 per pound and the equilibrium quantity is 100 pounds of artichokes per week.
Using the graph, show the area representing economic surplus in this market, and then determine how much economic surplus is generated in the market each week.
Microsoft Office Home x Mail - info myintelligentsolution. Question 5 - HW #5 - Market Effi > Course Hero X C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASsBkEPtGyUWbauh4oYOrXiMtriCGhHdQy0G5CvsNIboYEQOO... [> > # s Paused HW #5 - Market Efficiency i Saved Help Save & Exit Submit 5 Refer to the figure. Market for Artichokes points 10 Tools .A. ES Print Price (dollars) References - NW 50 100 150 200 250 Quantity (pounds of artichokes) The graph represents the market for artichokes (in pounds per week) at a Midwest farmers' market. Suppose the equilibrium price of artichokes is $3 per pound and the equilibrium quantity is 100 pounds of artichokes per week. Using the graph, show the area representing economic surplus in this market, and then determine how much economic surplus is generated in the market each week. Instructions: Use the tool provided 'ES' to illustrate this area on the graph. Economic surplus: $ Grav Type here to search X 74OF Sunny ~ g 9:28 AM 9/21/2022X Microsoft Office Home x Mail - info myintelligentsolution. Question 6 - HW #5 - Market Effi > Course Hero C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/question-group/kEZASsBkEPtGyUWbauh4oYOrXiMtriCGhHdQy0G5CvsNIboYEQOO... [2 7 # s Paused HW #5 - Market Efficiency i Saved Help Save & Exit Submit Refer to the figure below. 6 Market for Game Consoles 2 points 600 Tools 550 A. 500 450 CS PS Print 400 .A. 350 Price (dollars) 300 ESpo References 250 200 150 100 50 O A 10 20 30 40 50 60 70 80 90 100 110 Quantity Instructions: Enter your answers as a whole number. a. What is the quantity demanded at $150 per game console? Quantity demanded:[ game consoles b. What is the quantity supplied at $150 per game console? Quantity supplied: game consoles c. What is the consumer surplus generated at a price of $150 per game console? Instructions: Use the tool provided 'CS' to illustrate this area on the graph. Consumer surplus: $ d. What is the producer surplus generated at a price of $150 per game console? Instructione. I Ice the tool provided 'DC' to illustrate this area on the frank Mc Type here to search O W X 74OF Sunny ~ 61 9:31 AM 9/21/2022
