Refer to the figure above. What is the market-wide consumer surplus when the market price of wine is $9?
A) $180,000
B) $90,000
C) $60,000
D) $210,000
C
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The primary goal of the European Central Bank is
A) price stability. B) exchange rate stability. C) interest rate stability. D) high employment.
According to recent research, the gas tax in the United States is lower than the optimal level
a. True b. False Indicate whether the statement is true or false
A higher price for oil shifts the # randomize
A. SAS curve leftward. B. LAS curve leftward. C. SAS curve rightward. D. AD curve rightward.
Recall the Application about the decrease in the price of wool in the 1990s to answer the following question(s). In the 1990s, the world price of wool decreased by about 30 percent and prices have remained relatively low since then. In 2012, an organization in New Zealand proposed that sheep shearing be added to the Commonwealth Games and the Olympics as a spectator sport in an effort to increase the awareness and the demand for wool.Recall the Application. As the world price of wool decreased, the quantity of wool supplied by individual ranchers would ________, and the quantity supplied in the world market would ________.
A. increase; increase B. increase; decrease C. decrease; decrease D. decrease; increase