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In the Following Figure,the First Panel Shows a Market Situation

Question 58

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In the following figure,the first panel shows a market situation prior to regulation and the second panel shows the effects of regulation. Figure 12.2 In the following figure,the first panel shows a market situation prior to regulation and the second panel shows the effects of regulation. Figure 12.2 In the figure, D: Demand curve for automobiles S<sub>1</sub>: Supply curve of automobiles prior to regulation S<sub>2</sub>: Supply curve of automobiles after regulation FG: Clean up cost per unit -What is the total societal surplus prior to regulation described in Figure 12.2? A) Area 0FGQ<sub>1</sub>. B) Area BEP<sub>1</sub>. C) Area CEP<sub>1</sub>. D) Area FGEP<sub>1</sub>. E) Area BEC. In the figure,
D: Demand curve for automobiles
S1: Supply curve of automobiles prior to regulation
S2: Supply curve of automobiles after regulation
FG: Clean up cost per unit
-What is the total societal surplus prior to regulation described in Figure 12.2?


A) Area 0FGQ1.
B) Area BEP1.
C) Area CEP1.
D) Area FGEP1.
E) Area BEC.

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