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The Demand and Supply Curves Shown Below Apply to a Competitive

Question 101

Multiple Choice

The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets. The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets. FIGURE 13-2 -Refer to Figure 13-2.This factor market is in equilibrium at point B.In equilibrium,the 30th unit of the factor is being paid transfer earnings of ________ and economic rent of ________. A) $120; -$2 B) $16; $2 C) $7; $1 D) $210; $1 E) $6; $2 FIGURE 13-2
-Refer to Figure 13-2.This factor market is in equilibrium at point B.In equilibrium,the 30th unit of the factor is being paid transfer earnings of ________ and economic rent of ________.


A) $120; -$2
B) $16; $2
C) $7; $1
D) $210; $1
E) $6; $2

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