Refer to Figure 9.5. If the government establishes a price floor of $2.50, consumer surplus will
A) fall by $50.
B) fall by $150.
C) remain the same.
D) rise by $50.
E) rise by $150.
B
Economics
You might also like to view...
The vertical Phillips curve occurs in the long run because
A. wage and price rigidities prevent changes in aggregate demand to change unemployment. B. economic agents are quick to respond to changes in the price level. C. the aggregate supply curve is vertical which means that changes in aggregate demand will not change unemployment. D. of lags in monetary and fiscal policies.
Economics
Use the table below to answer the following question.OutputTotal Cost0$10120228338453573698The marginal cost of producing 3 units of output is
A. $28. B. $0. C. $10. D. $38.
Economics