The following figure shows the effect of a price ceiling in the market for yams.The market was initially in equilibrium at price P₂and quantity B.
Figure 10-1
-Refer to Figure 10-1.The change in aggregate consumer surplus due to a price ceiling set at P₁ is area _____.

Question

The following figure shows the effect of a price ceiling in the market for yams.The market was initially in equilibrium at price P₂and quantity B.
Figure 10-1

The following figure shows the effect of a price ceiling in the market for yams.The market was initially in equilibrium at price P<sub>2 </sub>and quantity B. Figure 10-1 -Refer to Figure 10-1.The change in aggregate consumer surplus due to a price ceiling set at P<sub>1</sub> is area _____. A) -EFJ B) EFJ + P<sub>2</sub>JIP<sub>1</sub> C) EFJ - P<sub>3</sub>EJP<sub>2</sub> D) P<sub>2</sub>JIP<sub>1 </sub>- EFJ

-Refer to Figure 10-1.The change in aggregate consumer surplus due to a price ceiling set at P₁ is area _____.

Quizplus · Accepted Answer

The Answer of The following figure shows the effect of a price ceiling in the market for yams.The market was initially in equilibrium at price P 2 and quantity B. Figure 10-1 -Refer to Figure 10-1.The change in aggregate consumer surplus due to a price ceiling set at P₁ is area _____. A)-EFJ B)EFJ + P₂JIP₁ C)EFJ - P₃EJP₂ D)P₂JIP₁- EFJ

The Following Figure Shows the Effect of a Price Ceiling