HW 6 - ECO303.02 HW #6 Multiple-Choice Questions (1 pt per...

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ECO303.02 HW #6 Multiple-Choice Questions (1 pt per question) There is only one correct choice in the following questions. Figure 9.1 1) Refer to Figure 9.1. If the market is in equilibrium, the consumer surplus earned by the buyer of the 1st unit is __________. A) $5.00 B) $15.00 C) $22.50 D) $40.00 2) Refer to Figure 9.1. If the market is in equilibrium, the producer surplus earned by the seller of the 1st unit is __________. A) $5.00 B) $10.00 C) $15.00 D) $20.00 E) $40.00 3) Refer to Figure 9.1. If the market is in equilibrium, total consumer surplus is A) $30. B) $70. C) $400. D) $800. E) $1200. 4) Refer to Figure 9.1. If the market is in equilibrium, total producer surplus is A) $30.
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ECO303.02 HW #6 B) $70. C) $400. D) $800. E) $1200. 5) Refer to Figure 9.1. If the market is in equilibrium, total consumer and producer surplus is A) $0. B) $100. C) $800. D) $1200. E) $2000.
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HW 6 - ECO303.02 HW #6 Multiple-Choice Questions (1 pt per...

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