Author Question: If sellers compete against buyers, then A) sellers would prefer to face more buyers in the ... (Read 133 times)

Brittanyd9008 · **on:** Jun 29, 2018

If sellers compete against buyers, then

A) sellers would prefer to face more buyers in the market.
B) sellers would prefer to face fewer buyers in the market.
C) buyers would prefer to face fewer sellers in the market.
D) buyers would prefer to face more sellers in the market.
E) both B and C are true.

Question 2

Refer to the figure above. If a price control is imposed at 8, what is the gain in consumer surplus?

A) 5
B) 10
C) 15
D) 20