EC 201 Practice_Final Quiz 4

EC 201 Practice_Final Quiz 4 - Title: Module 4 Quiz -...

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Title: Started: April 22, 2010 8:28 PM Submitted: April 22, 2010 9:30 PM Time spent: 01:01:36 Total score: 3/10 = 30% Total score adjusted by 0.0 Maximum possible score: 10 1. Figure: Consumer and Producer Surplus Reference: Ref 6-7 (Figure: Consumer and Producer Surplus) In the accompanying figure, if an effective price floor exists in this market, then consumer surplus ______, and total surplus ______. Student Response Value Correct Answer Feedback A. increases; decreases 0% B. decreases; stays the same C. increases; stays the same
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Student Response Value Correct Answer Feedback D. decreases; decreases Score: 0/1 2. Figure: Market for Hamburgers Reference: Ref 6-2 (Figure: Market for Hamburgers) The accompanying figure shows the weekly market for hamburgers at the Tasty Burger Palace. If the price of a burger is $2, consumer surplus will equal: Score:
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0/1 3. A binding price ceiling will cause a reduction in total
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EC 201 Practice_Final Quiz 4 - Title: Module 4 Quiz -...

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