Refer to the figure above. What is the gain in the market-wide ...

[student77]

Refer to the figure above. What is the gain in the market-wide consumer surplus when the price of calculators changes from 6 to 3?
 
  A) 565
  B) 580
  C) 950
  D) 1050

Question 2

The law of supply refers to the fact that, all other things remaining the same, when the price of a good rises
 
  A) the supply curve shifts leftward.
  B) the supply curve shifts rightward.
  C) there is a movement up along the supply curve to a larger quantity supplied.
  D) there is a movement down along the supply curve to a smaller quantity supplied.

[mmpiza]

Answer to Question 1

C

Answer to Question 2

C

[student77]

Thanks for the timely response, appreciate it

[upturnedfurball]

Excellent