What is the consumer surplus when the price is $20? Price 40 35 30 25 20 15 10 10 20 30 40 s0 60 70 0 Duantity Select one: O a. $20 O b. $1000 Oc $500 O d. $50
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- Od. The quantity demanded Which of the following statements is TRUE? Select one: O a. Total surplus is the area between demand and price O b. Producer surplus is the area between suppy and price O c. Consumer surplus is the area between demand and the X-axis O d. Consumer surplus is the area between supply and the X-axis Nert pRefer to Figure 7-2. At the equilibrium price, consumer surplus is O a $1,600 O b. $1,400. O $700 Od 1800 180 150 120 110 PRICE 90 28 2 6 10 15 QUANTITY 20 25 Supply Demand 3050 Supply 45 40 35 W 30 25 20 15 Demand 10 100 200 300 400 500 600 700 800 900 1000 QUANTITY Refer to Figure 4-7. At what price would there be an excess demand of 600 units of the good? O $20 O $10 O $15 O $5 PRICE
- According to the above graph, when the price $35, this would be Price $40 35 30 25 20 15 10 to 100 200 300 400 500 600 700 800 + Quantity Select one: O a. surplus of 10 units O b. a surplus of 200 O c. shortage of 400 units O d. None of the answers are correct O e. the market would be in equilibrium O f. surplus of 400What is the consumer surplus when the price is $20? *Price 40 35 30 25 20 15 10 5. ++ 1> Quantity 10 20 30 40 50 60 70 80 Select one: O a. $500 O b. $20 O c. $1000 O d. $5011000 - Principles of Economics | S1 20/21 Quiz navigation For a given normal demand curve, the amount of a tax paid by the producer will be larger 2 3 Select one: of O a. the more elastic the supply 10 11 12 13 ag O b. the higher is the price 19 20 O c. the more elastic the demand Finish attempt O d. if the tax is placed on the buyer Time left 0:04:49 O e. if the tax is placed on the seller page Next page
- Refer to the figure below: A P 16 11 8. 100 150 225 300 350 Quantity If the price is $16, the resulting O shortage will lead to a fall in price. O surplus will lead to a fall in price. O shortage will lead to a rise in price. O surplus wil Icad to a risc in pricc. を %24poin(s) possible Imposing a sales tax on sellers of a product has an effect that is similar to which of the following? cem A. a decrease in people's willingness to work B. an increase in demand for the good C. an increase in the costs of production O D. a decrease in consumers' preferences for the good ue As O E. Anything that decreases the demand and shifts the demand curve leftward. nt Ass ЛAR 1 O Time Remaining: 00:58:48 ompleted (ECON202 $2022 online) is based on Bade/Parkin: Foundations of Microeconomics, 9e ооQuestion 3 Figure #1 Price $20 18 16 14 12 主 1. 10 里 美 8 主 主 主 4 圭 2 目 0. 10 20 30 40 50 60 70 80 90 100 Ouantity Refer to Figure #1. In this market, equilibrium price and quantity.. respectively are O $8 and 50 O $10 and 50 O $12 and 40 O$14 and 70
- 16. A consequence of a Maximum price is: Select one: O a. A new equilibrium established O b. Excess supply 2C Cver production of goods O d. Excess demandPrice $40- 35 30- 25 20 15 10- 5 100 200 300 400 500 600 700 800 Quantity Refer to the Figure 4-2. What are the equilibrium price and quantity? O a. $15 and 200 b. $15 and 600 O c. $25 and 400 O d. $35 and 200QUESTION 1 Figure 1price 10 4 2 10 20 30 40 50 60 70 80 quantity Refer to Figure. A price floor of $ 8 in this market would result in O a. the quantity of the good demanded decreases by 10 units. O b. the quantity of the good demanded increases by 10 units. O. the quantity of the good demanded decreases by 30 units. O d. the buyer's total expenditure to decrease by $20. QUESTION 2 Price controls O a. helps only buyers. O b. helps only sellers. OC. can help both buyers and sellers. O d. helps neither buyers or sellers.
