Figure: Demand 2 Price $100 on 80 70.74 60 60 40 40 20 19.63 A S2 D₁ B S₁ C D 35,73 46.02 0 10 20 30 40 50 60 70 80 90 100 Quantity WhereSjis the supply of drugs with no prohibition andS2is the supply of drugs with prohibition, the area that represents total revenue with drug prohibition is and the area that represents total revenue with no prohibition is O a. A+C+D:B+D O b. C+DA+C O c. A+C;C+D O d. B+DA+C

Figure: Demand 2 Price $100 on 80 70.74 60 60 40 40 20 19.63 A S2 D₁ B S₁ C D 35,73 46.02 0 10 20 30 40 50 60 70 80 90 100 Quantity WhereSjis the supply of drugs with no prohibition andS2is the supply of drugs with prohibition, the area that represents total revenue with drug prohibition is and the area that represents total revenue with no prohibition is O a. A+C+D:B+D O b. C+DA+C O c. A+C;C+D O d. B+DA+C

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 29CTQ: A city has build a bridge over a river and it decides to charge a toll to everyone who crosses. For...

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Transatlantic air travel in business class has an estimated elasticity of demand of 0.62, while transatlantic air travel in economy class has an estimated price elasticity of 0.12. Why do you think this is the case?
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