The demand and supply curves shown below apply to a competitive market for a factor in the production of widgets. FIGURE 13- 5
-Refer to Figure 13- 5. 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) $6; $2
C) $16; $2
D) $120; - $2
E) $120; $40

Question

The demand and supply curves shown below apply to a competitive market for a factor in the production of widgets.  FIGURE 13- 5
-Refer to Figure 13- 5. 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) $6; $2 
C) $16; $2 
D) $120; - $2 
E) $120; $40

Quizplus · Accepted Answer

The Answer of The demand and supply curves shown below apply to a competitive market for a factor in the production of widgets.  FIGURE 13- 5
-Refer to Figure 13- 5. 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) $6; $2 
C) $16; $2 
D) $120; - $2 
E) $120; $40

The Demand and Supply Curves Shown Below Apply to a Competitive