If consumer willingness to pay equals 5 USD/unit and the price paid is equal to 2 USD/unit, then the CS equals:
A) 2 USD
B) 5 USD
C) 3 USD
D) 7 USD
Correct Answer:
Verified
Q12: All of the following are things that
Q13: Price ceilings help:
A) All consumers
B) All producers
C)
Q14: Welfare economics is:
A) Giving money to poor
Q15: consumer surplus measures all except:
A) The surplus
Q16: Producer surplus measures all except:
A) The surplus
Q18: If price received equals 5 USD/unit and
Q19: The units for CS and PS are:
A)
Q20: All government policies and programs result in:
A)
Q21: Who benefits from a price ceiling:
A) Producers
B)
Q22: Two measures of the overall size of
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