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In the Following Figure, the First Panel Shows a Market

Question 54

Multiple Choice

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 According to Figure 12.2, the total clean up cost for the society prior to regulation is: A) area 0BEQ<sub>1</sub>. B) area 0FIQ<sub>2</sub>. C) area 0FGQ<sub>1</sub>. D) area 0P<sub>1</sub>EQ<sub>1</sub>. E) area 0CEQ<sub>1</sub>. 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
According to Figure 12.2, the total clean up cost for the society prior to regulation is:


A) area 0BEQ1.
B) area 0FIQ2.
C) area 0FGQ1.
D) area 0P1EQ1.
E) area 0CEQ1.

Correct Answer:

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