ADVANCED PLACEMENT
Microeconomics, 7e (Pindyck/Rubinfeld) Chapter 9 The Analysis of Competitive Markets. Figure 9.1. 1) Refer to Figure 9.1. If the market is in equilibrium, the consumer surplus earned by the buyer of the 1st unit is _____. ... variable operating profit plus factor rents. C) total profit minus factor rents earned by lower cost firms. D) total ... ................
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