Refer to Figure 9.4. If the government establishes a price floor of $40 and government purchases the surplus over quantity demanded, producer surplus will
A) fall by $275.
B) fall by $500.
C) remain the same.
D) rise by $275.
E) rise by $500.
E
Economics
You might also like to view...
The income per capita of a country with a population of 50,000 is $4,500. Its gross domestic product is ________
A) $54,500 B) $900,000 C) $225,000,000 D) $120,000,000
Economics
Seasonally adjusted unemployment rates
A) are the same as the unadjusted rates in periods of bad weather. B) are not calculated for the U.S. economy. C) adjust for the predictable summer increase in the unemployment rate for teenagers. D) adjust for the predictable summer decrease in the unemployment rate for teenagers.
Economics