(Figure: Determining Surplus) In the graph, the formula for consumer surplus is 0.5 × (i - j) × (k - i). 
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Q4: If a consumer is willing to pay
Q5: Suppose that a customer's willingness-to-pay for a
Q6: Market failure means that
A) the market has
Q7: How large is deadweight loss in equilibrium?
A)
Q8: (Figure: Determining Surplus and Loss) In the
Q10: Which statement illustrates what an effective price
Q11: Producer surplus is shown graphically as the
Q12: If a price floor is set below
Q13: (Figure: Understanding Price Ceilings and Floors) In
Q14: Markets tend to produce
A) the right amount
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