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70 60 Supply 50 Price ($s per hour) 40 (2 30 3 20 8 10 4 9 Demand 1000 2000 3000 4000 5000 6000 7000

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70 60 Supply 50 Price ($s per hour) 40 (2 30 3 20 8 10 4 9 Demand 1000 2000 3000 4000 5000 6000 7000 8000 Quantity (number of hours of gardening service per month) Figure 1 a- Consider the demand curve in Figure 1. What is the consumer surplus when the price is $30 per hour? b- Consider the demand curve in Figure 1. What is the producer surplus when the price is $30 per hour? c- Consider the demand curve in Figure 1. If the price rises from $30 to $50 per hour, What will happen to economic surplus? d- Consider the demand curve in Figure 1. If the price rises from $30 to $15 per hour, What will happen to economic surplus

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