SurplusP%26R

SurplusP%26R - a. $0. b. $4. c. $5. d. $600. e. $800. 6. If...

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Page 1 For the following questions, refer to the diagram below. 1. If the market is in equilibrium, the consumer surplus earned by the buyer of the 100th unit is a. $0.50. b. $0.75. c. $1.50. d. $2.00. e. $2.75. 2. If the market is in equilibrium, the producer surplus earned by the seller of the 100th unit is a. $0.50. b. $0.75. c. $1.50. d. $2.00. e. $2.75.
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Page 2 3. If the market is in equilibrium, total consumer surplus is a. $1. b. $3. c. $200. d. $400. e. $600. 4. If the market is in equilibrium, total producer surplus is a. $2. b. $3. c. $200. d. $400. e. $600.
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Page 3 5. If the market is in equilibrium, total consumer and producer surplus is
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Unformatted text preview: a. $0. b. $4. c. $5. d. $600. e. $800. 6. If the government establishes a price ceiling of $1.00, how many pounds of berries will be sold? a. 200 b. 300 c. 400 d. 600 e. 800 Page 4 7. If the government establishes a price ceiling of $1.00, consumer surplus will a. fall by $50. b. fall by $150. c. remain the same. d. rise by $50. e. rise by $150. 8. If the government establishes a price ceiling of $1.00, producer surplus will a. fall by $150. b. fall by $300. c. remain the same. d. rise by $150. e. rise by $300. Page 1 1. b 2. c 3. c 4. d 5. d 6. a 7. e 8. b...
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SurplusP%26R - a. $0. b. $4. c. $5. d. $600. e. $800. 6. If...

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