10 Supply 7.5 2.5 Demand 200 400 600 800 Q If consumers were forced to pay $7.50 per unit for the good in the graph above instead of $5 unit (because of a price floor or a shift in supply), consumer surplus would than fall from: O 1,000 to 250. . O 1,000 to 500. 500 to 250. O 2,000 to 500.
10 Supply 7.5 2.5 Demand 200 400 600 800 Q If consumers were forced to pay $7.50 per unit for the good in the graph above instead of $5 unit (because of a price floor or a shift in supply), consumer surplus would than fall from: O 1,000 to 250. . O 1,000 to 500. 500 to 250. O 2,000 to 500.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 31RQ: What is consumer surplus? How is it illustrated on a demand and supply diagram?
Related questions
Question
![10
Supply
7.5
2.5
Demand
200
400
600
800
If consumers were forced to pay $7.50 per unit for the good in the graph above instead of $5 per
unit (because of a price floor or a shift in supply), consumer surplus would than fall from:
O 1,000 to 250. .
O 1,000 to 500.
500 to 250.
O 2,000 to 500.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb880b0dd-b4c4-4d8b-899a-ab39434985d5%2F28640795-af47-4630-ad2e-b388afa6f7e0%2Ftd4z2q9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:10
Supply
7.5
2.5
Demand
200
400
600
800
If consumers were forced to pay $7.50 per unit for the good in the graph above instead of $5 per
unit (because of a price floor or a shift in supply), consumer surplus would than fall from:
O 1,000 to 250. .
O 1,000 to 500.
500 to 250.
O 2,000 to 500.
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