After a price floor of 23 is placed on the market in the graph shown which area

After a price floor of 23 is placed on the market in

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30. After a price floor of $23 is placed on the market in the graph shown, which area represents total surplus? A. AB. B + C + E + FC. A + B + ED. A + B + C + E + F
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31. An effective price ceiling: 32. A tax wedge: 33. Suppose a tax on sellers has been imposed in the graph shown. Once the tax is in place, the buyers purchase ____ units and pay ____ for each one. 34. If the producers bear a smaller tax incidence than the buyers in a market, which of the following must be true? A. It must be a market for inferior goods.B. It must be a market for luxury items.C. Their supply curve must be more elastic than the buyers demand curve in this market.D. Their supply curve must be less elastic than the buyers demand curve in this market.
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35. Assume Claudia's budget constraint is demonstrated by line A in the graph shown. Which of the following would cause Claudia's budget constraint to shift to line C? 36. This graph shows three different budget constraints: A, B, and C.If Bart has budget constraint A in the graph shown, what would cause his budget constraint to shift to B?
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37. In general, the income effect of an increase in the price of a normal good: 38. In general, the substitution effect of an increase in the price of a normal good: A. will cause the individual to buy more of that good because they have relatively more income.B. will cause the individual to buy less of that good because they have relatively less income.C. will cause the individual to buy more of that good and less of others because it is relatively less expensive.D. will cause the individual to buy less of that good and more of others because it is relatively more expensive.
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