Refer to Table 4-2. The table above lists the highest prices five ...

[wrbasek0]

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

[Sarahjh]

Answer to Question 1

B

Answer to Question 2

TRUE

[wrbasek0]

Gracias!

[jamesnevil303]

TYSM