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Author Question: Refer to Figure 9.6. Before this policy was implemented, producer surplus was A) 10. B) 2000. ... (Read 52 times)

misspop

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on: Jul 1, 2018
Refer to Figure 9.6. Before this policy was implemented, producer surplus was
 
  A) 10.
  B) 2000.
  C) 4000.
  D) 6000.
  E) 12000.

Question 2

Assume that beer is an inferior good. If the price of beer falls, then the substitution effect results in the person buying ________ of the good and the income effect results in the person buying ________ of the good.
 
  A) more, more
  B) more, less
  C) less, more
  D) less, less


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soda0602

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Reply #1 on: Jul 1, 2018
Answer to Question 1

B

Answer to Question 2

B


misspop

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Reply #2 on: Jul 1, 2018
Correct answers!


soda0602

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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