Business, 11.03.2020 01:28 kflvcko6996

Suppose the local market for legal services has an upward sloping supply curve, PL = 150 +0.0001QL where PL is the price of legal services and QL is the number of hours of legalservices. If the equilibrium price of legal services is $250 per hour, what is the aggregateeconomic rent earned by lawyers in this market?
A) $50,000
B) $1,000,000
C) $50,000,000
D) $100,000,000

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Suppose the local market for legal services has an upward sloping supply curve, PL = 150 +0.0001QL w...