Refer to Figure 7-7. Sellers are producing: the same output that is being consum

Question

Refer to Figure 7-7. Sellers are producing: the same output that is being consumed. less than is being consumed. more than is being consumed. none of the above. Refer to Figure 7-7. Consumer surplus before the price floor is area a a + b + c e + f a + b + e Refer to Figure 7-7. Consumer surplus after the price floor is area a + b + c b + c a a + b + e Refer to Figure 7-7. Producer surplus before the price floor is area: e + f + b + c + d a + b + c e + f b + c + d + e + f Refer to Figure 7-7. Producer surplus after the price floor is area: e + f + b + c + d e + f a + b + c b + c + d Refer to Figure 7-7. The cost to government (tax payers) after the price floor is area: - (g + h + i) -(d) - (c + f + g + h + i) -(c + d + f + g + h + i)

Explanation / Answer

7 C 8 B 9 C 10 C 11 A 12 B I used these according to the definition of surplus of consumer andproducer. If you have specific question, I will be glad to askthrough CHAT or MSG

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.