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with explanation, please. Refer to the figure. Market for Artichokes 0 10 Tools 9 8 ES 7 6 Price (dollars) s 5 4 3 2

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with explanation, please.

Refer to the figure. Market for Artichokes 0 10 Tools 9 8 ES 7 6 Price (dollars) s 5 4 3 2 1 D 0 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: $

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