Referring to question 1: The amount of producer surplus in this market is $_____.  Make sure you round your answer to two decimal places (and include the decimal point and two decimal places to the right in your answer, and if your answer requires a comma, put the comma in the appropriate place

Please refer to the image below and answer question 10

Please refer to the image below and answer question 13

Using Supply and Demand to Analyze Markets-End of Chapter Problem Increases in demand generally result in increases in consumer surplus. However, this is not always the case. Of the following scenarios, which one is most likely to result in a decrease in consumer surplus? Supply is relatively elastic, and demand becomes highly inelastic when it increases. Supply and demand are both unit elastic and demand increases. Supply is inelastic, and demand becomes highly elastic when it increases. O Supply is relatively elastic, and demand becomes highly elastic when it increases.

The standard measure of consumer surplus is a fair measure of the value of a good to consumers because it gives an equal weight to each individual consumer.” Is this statement true, false, or uncertain?

The figure to the right illustrates the market for apples in which the government has imposed a price floor of $14 per crate. How many crates of apples will be sold after the price floor has been imposed? 14 million crates of apples per year. (Enter your response as an integer.) Will there be a shortage or surplus? If there is a shortage or surplus, how large will it be? There will be a surplus of 18 million crates of apples per year. (Enter your response as an integer.) Will apple producers benefit from the price floor? O A. Apple producers who are able to sell their apples at the $14 price per crate will benefit. O B. Apple producers who are not able to sell their apples will not benefit. O C. Total revenue for apple producers as a group will decrease from $220 million to $196 million. O D. Both a and b. O E. All of the above. Price 20- 18- 16- 14 12- 10- 8- 6- 4- 2- 0- 0 Supply Demand 4 8 12 16 20 24 28 32 36 40 Quantity (millions of crates per year)