Author Question: Refer to the figure above. What is the loss in the market-wide consumer surplus when the price of ... (Read 107 times)

sheilaspns · **on:** Jun 29, 2018

Refer to the figure above. What is the loss in the market-wide consumer surplus when the price of wine changes from 9 to 18?

A) 144,000
B) 30,000
C) 57,000
D) 0

Question 2

The quantity supplied of a good or service is the amount that

A) producers wish they could sell at a higher price.
B) is actually bought during a given time period at a given price.
C) people are willing to buy during a given time period at a given price.
D) producers plan to sell during a given time period at a given price.