Figure: Price Ceiling of Ps Reference: Ref 8-6 (Figure: Price Ceiling of Ps) Refer to the figure. Suppose a price ceiling of Ps is imposed. The shaded area may likely represent all of the following EXCEPT:
A) value of wasted time.
B) the amount that buyers bribe sellers.
C) the amount of corruption.
D) consumer surplus.

Question

Figure: Price Ceiling of Ps  Reference: Ref 8-6 (Figure: Price Ceiling of Ps) Refer to the figure. Suppose a price ceiling of Ps is imposed. The shaded area may likely represent all of the following EXCEPT:
A) value of wasted time. 
B) the amount that buyers bribe sellers. 
C) the amount of corruption. 
D) consumer surplus.

Quizplus · Accepted Answer

The Answer of Figure: Price Ceiling of Ps  Reference: Ref 8-6 (Figure: Price Ceiling of Ps) Refer to the figure. Suppose a price ceiling of Ps is imposed. The shaded area may likely represent all of the following EXCEPT:
A) value of wasted time. 
B) the amount that buyers bribe sellers. 
C) the amount of corruption. 
D) consumer surplus.