7. The market for college athletes Suppose that Sam, an excellent high school basketball player, is being recruited by the University of California, Berkeley (that is, Berkeley is the consumer in this example). NCAA rules prevent universities from compensating student athletes more than the full cost of tuition. Assume that recruiting for college athletes is organized under a perfectly competitive environment. The following graph shows the supply of and demand for Sam's athletic services. Suppose that Berkeley's annual tuition is $33,000 (the amount scholarship money, or the "wage," Sam receives in exchange for playing at Berkeley). Shade the area representing Berkeley's consumers' surplus using the green point (triangle symbol). Then shade the area representing Sam's total) wage revenue using the purple point (diamond symbol). Demand: 60 30 54 FG 48 42 36 Tuition 30 WAGE (Thousands of dollars) 24 18 12 Sam's Athletic Services Supply 43 A CS Total Wage ?