ch4 - Name: _ Date: _ ch4 1. Consider the market for...

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Name: __________________________ Date: _____________ ch4 1. Consider the market for milkshakes. An increase in the consumer surplus may result from: A) an increase in the price of milkshakes. B) an increase in the supply of milkshakes. C) a decrease in the demand for milkshakes. D) a decrease in the supply of milkshakes. 2. Along a given demand curve, an increase in the price of a good will: A) increase consumer surplus. B) decrease consumer surplus. C) have no effect on consumer surplus. D) decrease producer surplus. Use the following to answer questions 3-5: Figure: Market for Hamburgers 3. (Figure: Market for Hamburgers) The figure shows the weekly market for hamburgers at the Tasty Burger Palace. If the price of a burger is $2, consumer surplus will equal: A) $650. B) $400. C) $225. D) $450. Page 1
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4. (Figure: Market for Hamburgers) The figure shows the weekly market for hamburgers at the Tasty Burger Palace. If the Palace sells 400 burgers, consumer surplus will equal: A) $650. B)
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ch4 - Name: _ Date: _ ch4 1. Consider the market for...

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