In order to study labor markets more easily, we make which of the following assumptions about firms?
September 3, 2020
Dunn’s Emporium is going gangbusters and George who owns the deli next door is getting ready to retire. Dunn is in the process of acquiring The Deli….
September 3, 2020

a. Label the equilibrium that gives you the optimal level of consumption as point

A.

b. Fill in the consumer surplus in the graph.

c. Using the concept of an inverse demand curve, explain why it is optimal to consume at Point A

KM
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