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Diff: 2 Section: 9.1 C) remain the same. D) rise by $200. E) rise by $300. Answer: B Diff: 2 Section: 9.1 A) $0. B) $20. C) $30. D) $300. E) $600. Answer: D Diff: 1 Section: 9.11 ment Policies--Consumer and Producer Surplus Price 70 C) $600. D) $900. E) $1200. (dollars Answer: D Diff: 1 Section: 9.1 R989889 per widget) 60. 50 40 30 20 10- 0 10 8) Refer to Figure 9.1.1 above. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of $20, producer surplus will: A) fall by $200. B) fall by $300. 20 Figure 9.1.1 50 9) Refer to Figure 9.1.1 above. If the government establishes a price ceiling of $20, the resulting deadweight loss will be (show your calculations): -Supply, S Demand, D 60 Quantity of widgets 10) Refer to Figure 9.1.1 above. If the government establishes a price ceiling of $20, total consumer and producer surplus will be (show your calculations): A) $30. B) $400.

Diff: 2 Section: 9.1 C) remain the same. D) rise by $200. E) rise by $300. Answer: B Diff: 2 Section: 9.1 A) $0. B) $20. C) $30. D) $300. E) $600. Answer: D Diff: 1 Section: 9.11 ment Policies--Consumer and Producer Surplus Price 70 C) $600. D) $900. E) $1200. (dollars Answer: D Diff: 1 Section: 9.1 R989889 per widget) 60. 50 40 30 20 10- 0 10 8) Refer to Figure 9.1.1 above. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of $20, producer surplus will: A) fall by $200. B) fall by $300. 20 Figure 9.1.1 50 9) Refer to Figure 9.1.1 above. If the government establishes a price ceiling of $20, the resulting deadweight loss will be (show your calculations): -Supply, S Demand, D 60 Quantity of widgets 10) Refer to Figure 9.1.1 above. If the government establishes a price ceiling of $20, total consumer and producer surplus will be (show your calculations): A) $30. B) $400.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Diff: 2 Section: 9.1 C) remain the same. D) rise by $200. E) rise by $300. Answer: B Diff: 2 Section: 9.1 ment Policies--Consumer and Producer Surplus Answer: D Diff: 1 Section: 9.1 Price 70 (dollars Answer: D Diff: 1 Section: 9.1 R989889 per widget) 60. 50 40 30 20 10- 0 10 20 Figure 9.1.1 50 8) Refer to Figure 9.1.1 above. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of $20, producer surplus will: A) fall by $200. B) fall by $300. -Supply, S Demand, D 60 Quantity of widgets 9) Refer to Figure 9.1.1 above. If the government establishes a price ceiling of $20, the resulting deadweight loss will be (show your calculations): A) $0. B) $20. C) $30. D) $300. E) $600. 10) Refer to Figure 9.1.1 above. If the government establishes a price ceiling of $20, total consumer and producer surplus will be (show your calculations): A) $30. B) $400. C) $600. D) $900. E) $1200.
Transcribed Image Text:Diff: 2 Section: 9.1 C) remain the same. D) rise by $200. E) rise by $300. Answer: B Diff: 2 Section: 9.1 ment Policies--Consumer and Producer Surplus Answer: D Diff: 1 Section: 9.1 Price 70 (dollars Answer: D Diff: 1 Section: 9.1 R989889 per widget) 60. 50 40 30 20 10- 0 10 20 Figure 9.1.1 50 8) Refer to Figure 9.1.1 above. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of $20, producer surplus will: A) fall by $200. B) fall by $300. -Supply, S Demand, D 60 Quantity of widgets 9) Refer to Figure 9.1.1 above. If the government establishes a price ceiling of $20, the resulting deadweight loss will be (show your calculations): A) $0. B) $20. C) $30. D) $300. E) $600. 10) Refer to Figure 9.1.1 above. If the government establishes a price ceiling of $20, total consumer and producer surplus will be (show your calculations): A) $30. B) $400. C) $600. D) $900. E) $1200.
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