Refer to the figure below. Suppose the dairy lobby convinces the government to impose price controls in this market. If the government requires cheese to be sold for a price of $8 per pound, total consumer surplus in the market would equal:
A)$20 per day
B)$60 per day
C)$80 per day
D)$120 per day

Question

Refer to the figure below. Suppose the dairy lobby convinces the government to impose price controls in this market. If the government requires cheese to be sold for a price of $8 per pound, total consumer surplus in the market would equal: 
A)$20 per day 
B)$60 per day 
C)$80 per day 
D)$120 per day

Quizplus · Accepted Answer

The Answer of Refer to the figure below. Suppose the dairy lobby convinces the government to impose price controls in this market. If the government requires cheese to be sold for a price of $8 per pound, total consumer surplus in the market would equal: 
A)$20 per day 
B)$60 per day 
C)$80 per day 
D)$120 per day

Refer to the Figure Below