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Author Question: Refer to Table 4-2. The table above lists the highest prices five consumers are willing to pay for a ... (Read 72 times)

wrbasek0

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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


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Sarahjh

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

TRUE


wrbasek0

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Reply 2 on: Jun 29, 2018
Gracias!

pratush dev

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Reply 3 on: Yesterday
Excellent

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