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Author Question: FIGURE 5-6Refer to Figure 5-6. The market for good X is in equilibrium at P0and Q0. Now suppose the ... (Read 48 times)

jacob816

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on: Oct 12, 2022

Question 1




FIGURE 5-6

Refer to Figure 5-6. The market for good X is in equilibrium at P0 and Q0. Economic surplus is represented by


◦ areas 1 and 5.
◦ areas 1, 2, 3, 4, 5, 6, 7, 8.
◦ areas 2, 3, 4, 6, 7, 8.
◦ areas 1, 2, 3, 5, 6.
◦ areas 2, 3, 4, 6, 7, 8, 9.

Question 2




FIGURE 5-6

Refer to Figure 5-6. The market for good X is in equilibrium at P0 and Q0. Now suppose the government imposes a ________ at P1. One result would be ________.


◦ price ceiling; an increase in economic surplus represented by areas 5 and 6
◦ price floor; a deadweight loss represented by areas 5, 6, 7 and 8
◦ price ceiling; a deadweight loss represented by areas 5 and 6
◦ price ceiling; a deadweight loss represented by areas 5, 6, 7 and 8
◦ price floor; a deadweight loss represented by areas 2, 6 and 7
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by jacob816 on Oct 12, 2022

katrey9207

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jacob816

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

JaynaD87

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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