Author Question: Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a ... (Read 44 times)

wrbasek0 · **on:** Jun 29, 2018

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.

Question 2

In the market for gasoline, an increase in the federal excise tax on gasoline would shift the supply curve up.

Indicate whether the statement is true or false