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SECTION#_\\0 NAM NAME_O\iva. Noemi PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 6 and 7. Supply = MC Us %3D Price $100 BLoquceL encbiR cinA coumure anbpre.cm $50 100 200 Quantity 6. The minimum price this seller will accept for the 100th unit of output is: $0. $50. $100. a. ъ. C. d. impossible to determine from the graph. when the price increases from $50 to $100. $2,500; $10,000 $2,500; $20,000 7. Producer surplus increases from d. b. to $50; $100 $5,000; $10,000 C. d. 8. The difference between the highest price a consumer will pay and the actual market price is called a seller will accept is called marginal benefit; marginal cost marginal cost; marginal benefit producer surplus; consumer surplus consumer surplus; producer surplus ; the difference between the actual market price and the lowest price a. 1o tbiriW IannoM wwobsdf b. C. d. If Betty is willing to pay $45 for a new purse but only has to pay $30 for the purse, Betty: will enjoy consumer surplus if she purchases the purse. will experience a decline in consumer satisfaction if she purchases the purse. cannot afford to purchase the purse. must have a demand curve that is horizontal at a price of $45. 9. a. b. C. d. Assuming demand is downward-sloping and everything else remains the same, an increase in the supply of a product leads to: an increase in consumer surplus. a decrease in consumer surplus. no change in consumer surplus. no change in producer surplus. 10. a. b. C. d.

SECTION#_\\0 NAM NAME_O\iva. Noemi PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 6 and 7. Supply = MC Us %3D Price $100 BLoquceL encbiR cinA coumure anbpre.cm $50 100 200 Quantity 6. The minimum price this seller will accept for the 100th unit of output is: $0. $50. $100. a. ъ. C. d. impossible to determine from the graph. when the price increases from $50 to $100. $2,500; $10,000 $2,500; $20,000 7. Producer surplus increases from d. b. to $50; $100 $5,000; $10,000 C. d. 8. The difference between the highest price a consumer will pay and the actual market price is called a seller will accept is called marginal benefit; marginal cost marginal cost; marginal benefit producer surplus; consumer surplus consumer surplus; producer surplus ; the difference between the actual market price and the lowest price a. 1o tbiriW IannoM wwobsdf b. C. d. If Betty is willing to pay $45 for a new purse but only has to pay $30 for the purse, Betty: will enjoy consumer surplus if she purchases the purse. will experience a decline in consumer satisfaction if she purchases the purse. cannot afford to purchase the purse. must have a demand curve that is horizontal at a price of $45. 9. a. b. C. d. Assuming demand is downward-sloping and everything else remains the same, an increase in the supply of a product leads to: an increase in consumer surplus. a decrease in consumer surplus. no change in consumer surplus. no change in producer surplus. 10. a. b. C. d.

Principles of Macroeconomics (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
7th Edition
ISBN:9781285165912
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter7: Consumers, Producers, And The Efficiency Of Markets
Section: Chapter Questions
Problem 7PA
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SECTION#_\\0 NAM NAME_O\iva. Noemi PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 6 and 7. Supply = MC Us %3D Price $100 BLoquceL encbiR cinA coumure anbpre.cm $50 100 200 Quantity 6. The minimum price this seller will accept for the 100th unit of output is: $0. $50. $100. a. ъ. C. d. impossible to determine from the graph. when the price increases from $50 to $100. $2,500; $10,000 $2,500; $20,000 7. Producer surplus increases from d. b. to $50; $100 $5,000; $10,000 C. d. 8. The difference between the highest price a consumer will pay and the actual market price is called a seller will accept is called marginal benefit; marginal cost marginal cost; marginal benefit producer surplus; consumer surplus consumer surplus; producer surplus ; the difference between the actual market price and the lowest price a. 1o tbiriW IannoM wwobsdf b. C. d. If Betty is willing to pay $45 for a new purse but only has to pay $30 for the purse, Betty: will enjoy consumer surplus if she purchases the purse. will experience a decline in consumer satisfaction if she purchases the purse. cannot afford to purchase the purse. must have a demand curve that is horizontal at a price of $45. 9. a. b. C. d. Assuming demand is downward-sloping and everything else remains the same, an increase in the supply of a product leads to: an increase in consumer surplus. a decrease in consumer surplus. no change in consumer surplus. no change in producer surplus. 10. a. b. C. d.
Transcribed Image Text:SECTION#_\\0 NAM NAME_O\iva. Noemi PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 6 and 7. Supply = MC Us %3D Price $100 BLoquceL encbiR cinA coumure anbpre.cm $50 100 200 Quantity 6. The minimum price this seller will accept for the 100th unit of output is: $0. $50. $100. a. ъ. C. d. impossible to determine from the graph. when the price increases from $50 to $100. $2,500; $10,000 $2,500; $20,000 7. Producer surplus increases from d. b. to $50; $100 $5,000; $10,000 C. d. 8. The difference between the highest price a consumer will pay and the actual market price is called a seller will accept is called marginal benefit; marginal cost marginal cost; marginal benefit producer surplus; consumer surplus consumer surplus; producer surplus ; the difference between the actual market price and the lowest price a. 1o tbiriW IannoM wwobsdf b. C. d. If Betty is willing to pay $45 for a new purse but only has to pay $30 for the purse, Betty: will enjoy consumer surplus if she purchases the purse. will experience a decline in consumer satisfaction if she purchases the purse. cannot afford to purchase the purse. must have a demand curve that is horizontal at a price of $45. 9. a. b. C. d. Assuming demand is downward-sloping and everything else remains the same, an increase in the supply of a product leads to: an increase in consumer surplus. a decrease in consumer surplus. no change in consumer surplus. no change in producer surplus. 10. a. b. C. d.
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