Refer to Figure 4-6. What is the value of consumer surplus after the imposition of the price floor?
A) $1,500 B) $2,700 C) $4,500 D) $5,700
A
Economics
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Refer to the table above. If Jack has an annual income of $40,000, into which tax bracket does he fall?
A) 10% B) 15% C) 23% D) 30%
Economics
If the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, using the formula for arc price elasticity what is the percentage change in price?
A) 18.18% B) 29.89% C) 20% D) 16.67%
Economics