NARRBEGIN: Exhibit 11-5
Exhibit 11-5

-In Exhibit 11-5, total earnings by the resource in equilibrium is represented by area

Name: NARRBEGIN: Exhibit 11-5 Exhibit 11-5 -In Exhibit 11-5, total earnings by the resource in equilibrium is represented by area
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Question

NARRBEGIN: Exhibit 11-5
Exhibit 11-5
 
-In Exhibit 11-5, total earnings by the resource in equilibrium is represented by area

Quizplus · Accepted Answer

In equilibrium, total earnings by the resource are represented by the sum of the area under the demand curve up to the equilibrium quantity, which includes both the producer surplus (area bed) and the total earnings (area 0deh).