Identify and define consumer and producer surplus

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Reference no: EM131242510

1. Draw a Production Possibilities (PPC/PPF) graph and show what happens when new technology improves communication. (Note: Any two goods must be labeled on the graph)

2. Draw a Supply and Demand graph and show what happens in the market for housing when interest rates rise.

3. Identify and define consumer and producer surplus.

Reference no: EM131242510

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