Refer to Figure 9-4. Under autarky, the equilibrium price is

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 of the tickets is $18

A) Basil will receive $2 of consumer surplus from buying one ticket. B) Anya and Basil will each buy two tickets. C) Anya and Basil receive a total of $26 of consumer surplus from buying one ticket each. No one else will buy a ticket. D) Celeste, Dralon, and Esther will receive a total of $34 of consumer surplus since they will buy no tickets.

Assume the government reduces your welfare check by $1 for every $2 that you earn on the job while on welfare. How will this tax affect your labor supply decisions? What is the implicit tax rate of such a policy?

What will be an ideal response?