FIGURE 13- 3 The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets.

-Refer to Figure 13- 3.This factor market is in equilibrium at point B.In equilibrium,the 20th unit of the factor is being paid transfer earnings of _ and economic rent of _ .
A)$320; $80
B)$120; - $2
C)$6; $2
D)$120; $40
E)$16; $2

Question

FIGURE 13- 3 The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets.
 
-Refer to Figure 13- 3.This factor market is in equilibrium at point B.In equilibrium,the 20th unit of the factor is being paid transfer earnings of _ and economic rent of _ .
A)$320; $80 
B)$120; - $2 
C)$6; $2 
D)$120; $40 
E)$16; $2

Quizplus · Accepted Answer

The Answer of FIGURE 13- 3 The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets.
 
-Refer to Figure 13- 3.This factor market is in equilibrium at point B.In equilibrium,the 20th unit of the factor is being paid transfer earnings of _ and economic rent of _ .
A)$320; $80 
B)$120; - $2 
C)$6; $2 
D)$120; $40 
E)$16; $2

FIGURE 13- 3 the Demand and Supply Curves Shown Below