Refer to the graph above what is the consumer surplus

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17. Refer to the graph above. What is the consumer surplus when market is in equilibrium?A.$225,000B.$712,500C.$112,500D.$1.50E. None of the above
18. Refer to the graph above.What is the total cost of production when market is in equilibrium?
19.Refer to the graph above. When the market is in equilibrium, what is the revenue earned by firms?
20.Refer to the graph above.Suppose the government levied a $3 per-unit tax on this market. Howmuch would the government collect in tax revenue?
21.Refer to the graph above.Suppose the government enforces a quota restriction such thatQ = 100,000. What would be the deadweight loss of this decision?A. $225,000B. $37,500C. $600,000D. $150,000E.None of the above
22.Refer to the graph above. Suppose the government placed a price ceiling of $3 on this market. Thiswould cause:
23.Refer to the above graph. Suppose the government placed a price floor of $3 on this market. Thiswould cause:
.
24.The demand curve for a market has a negative slope due to:
25.When a market has achieved allocative efficiency…A. there is maximum employment of resources.B. the economy is producing with zero waste.C. the production outcome is a point on the PPC.D. total surplus is maximized.
26.There is a village that produces two things: corn and swords. Suppose the village experiences a badgrowing season due extraordinarily hot weather. Which of the following PPF shifts best represents theeffect of this event:
27.Suppose a market is in equilibrium, and experiences a negative supply shock (supply decreases).Which of the following explains what happens in the market?
*Use the following table to answer Questions 28 through 30:28.What is the marginal utility of the 2ndpack of pens?241

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