Refer to Figure 4-8. What is the value of consumer surplus after the imposition of the ceiling?
A) $120,000 B) $230,000 C) $270,000 D) $430,000
B
Economics
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An increase in the price of a good causes
A) a change in the slope of the budget line. B) an increase in the consumption of that good. C) a rightward shift of the demand curve for that good. D) a parallel rightward shift of the budget line.
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When considering voting options, if option X beats Y, and Y beats Z, then transitivity says that:
A. Z beats X. B. Y beats X. C. X beats Z. D. Z beats Y.
Economics