Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a theater ticket. If the price of one ticket falls from $25 to $10
A) consumer surplus decreases from $24 to $12. B) consumer surplus increases from $0 to $31.
C) only three tickets will be sold. D) everyone will buy a ticket.
B
Economics
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Which of the following would cause an increase in the market supply of mountain bikes?
A) a decrease in the demand for mountain bikes B) an increase in taxes levied on mountain bike manufacturers C) an increase in the cost of components used to assemble mountain bikes D) an increase in the number of firms making mountain bikes
Economics
Rent controls
a. Is an example of price floors b. Is an example of price ceilings c. Destroy wealth by preventing the movement of apartments to higher-valued use. d. Both b and c
Economics