Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, producer surplus will
A) fall by $150.
B) fall by $300.
C) remain the same.
D) rise by $150.
E) rise by $300.
B
You might also like to view...
Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. If Always There Wireless charges the highest fixed fee that it can without losing the low-demand consumers, which of the following is the most profitable price per minute?
A. $0.35 B. $0.40 C. $0.50 D. $0.60
To have more consumer goods in the future, we must
A) produce more capital goods today. B) lower current income. C) get government involved in the production process. D) stop producing all goods today.
The difference between iron ore deposits and the steel produced from these deposits that is later used to make factory equipment illustrates the difference between:
A) labor and a natural resource. B) labor and capital. C) a natural resource and capital. D) a natural resource and entrepreneurship.
In 2017, Kara sold her used car to Augi's Used Cars, a local dealership, for $2,000. Augi's then serviced and cleaned the car and sold it to Alex for $3,000. How much would these transactions add to GDP in 2017?
A. $1,000. B. $0 C. $3,000. D. $2,000.