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SOLUTIONS TO TEXT PROBLEMS: Chapter 7. Quick Quizzes. 1. Figure 1 shows the demand curve for turkey. The price of turkey is P1 and the consumer surplus that results from that price is denoted CS. Consumer surplus measures buyers’ willingness to pay (measured by the demand curve) minus the amount the buyers actually pay. Figure 1. Figure 2. 2.

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7/3/2016 · (Chapters and problems taken from Mankiw’s Macroeconomics 9 th edition; there is no Problem Set #1) Long-Run Relationships. 2. Production, Distribution, and Spending: Chapter 3, Problems #1, 6, 9. Answers are available as a PDF file. 3. Long-Run Growth and Productivity: Chapter 8, #2, #4 Chapter 9, #3, #6.

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SOLUTIONS TO TEXT PROBLEMS: Chapter 7. Quick Quizzes. 1. Figure 1 shows the demand curve for turkey. The price of turkey is P1 and the consumer surplus that results from that price is denoted CS. Consumer surplus measures buyers’ willingness to pay (measured by the demand curve) minus the amount the buyers actually pay. Figure 1. Figure 2. 2.

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SOLUTIONS TO TEXT PROBLEMS: Chapter 7. Quick Quizzes. 1. Figure 1 shows the demand curve for turkey. The price of turkey is P1 and the consumer surplus that results from that price is denoted CS. Consumer surplus measures buyers’ willingness to pay (measured by the demand curve) minus the amount the buyers actually pay. Figure 1. Figure 2. 2.

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