Ee the graph below to amswer questions 6 through Supply NAME PRINT LASENME, FISENAME Use the g Price ($) 20 15 10 7.5 Demand Quantity and producer 0 10 20 30 40 50 60 70 $400; $200 $200; $400 When this market is in equilibrium, consumer surplus is equal to 6. surplus is equal to a. d. $200; $100 $100; $200 If there is a price floor set at $15, the quantity bought and sold (exchanged) in this market 7. 60. C. will be equal to: 20. 80. d. a. b. 40. f there is a price floor set at $15, consumer surplus will be equal to surplus will be equal to $50; $100 $50; $175 and producer 8. $100; $100 $100; $175 C. a. d. If there is a price ceiling set at $7.50, the quantity bought and sold (exchanged) in this 9. market will be equal to: 60. 20. 40. a. C. b. d. 80. 10. If there is a price ceiling set at $7.50, consumer surplus will be equal to producer surplus will be equal to $175; $25 $175; $50 and a. $200; $25 $200; $50 b. C. d. Chapter 7 Assignments 142
Ee the graph below to amswer questions 6 through Supply NAME PRINT LASENME, FISENAME Use the g Price ($) 20 15 10 7.5 Demand Quantity and producer 0 10 20 30 40 50 60 70 $400; $200 $200; $400 When this market is in equilibrium, consumer surplus is equal to 6. surplus is equal to a. d. $200; $100 $100; $200 If there is a price floor set at $15, the quantity bought and sold (exchanged) in this market 7. 60. C. will be equal to: 20. 80. d. a. b. 40. f there is a price floor set at $15, consumer surplus will be equal to surplus will be equal to $50; $100 $50; $175 and producer 8. $100; $100 $100; $175 C. a. d. If there is a price ceiling set at $7.50, the quantity bought and sold (exchanged) in this 9. market will be equal to: 60. 20. 40. a. C. b. d. 80. 10. If there is a price ceiling set at $7.50, consumer surplus will be equal to producer surplus will be equal to $175; $25 $175; $50 and a. $200; $25 $200; $50 b. C. d. Chapter 7 Assignments 142
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 10
Transcribed Image Text:Ee the graph below to amswer questions 6 through
Supply
NAME
PRINT LASENME, FISENAME
Use the g
Price ($)
20
15
10
7.5
Demand
Quantity
and producer
0 10 20 30 40 50 60 70
$400; $200
$200; $400
When this market is in equilibrium, consumer surplus is equal to
6.
surplus is equal to
a.
d.
$200; $100
$100; $200
If there is a price floor set at $15, the quantity bought and sold (exchanged) in this market
7.
60.
C.
will be equal to:
20.
80.
d.
a.
b.
40.
f there is a price floor set at $15, consumer surplus will be equal to
surplus will be equal to
$50; $100
$50; $175
and producer
8.
$100; $100
$100; $175
C.
a.
d.
If there is a price ceiling set at $7.50, the quantity bought and sold (exchanged) in this
9.
market will be equal to:
60.
20.
40.
a.
C.
b.
d.
80.
10.
If there is a price ceiling set at $7.50, consumer surplus will be equal to
producer surplus will be equal to
$175; $25
$175; $50
and
a.
$200; $25
$200; $50
b.
C.
d.
Chapter 7 Assignments
142
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