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Question 9 (2.5 points) )Listen PRICE Main Content 8 10 12 14 16 18 20 QUANTITY In the graph above, if a price floor is imposed at a price of $14, it creates a shortage of 4 units surplus of 4 units surplus of 8 units shortage of 8 units Question 14 (2.5 points) ) Listen Supply PRICE Demand 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 QUANTITY In the figure above, the vertical distance between points A and B represents the original tax. If the government changed the per-unit tax from $5.00 to $7.50, then the price paid by buyers would be $10.50. the price received by sellers would be $3, and the quantity sold in the market would be 0.5 units. Compared to the original tax rate, this higher tax rate would increase government revenue and decrease the deadweight loss from the tax. increase government revenue and increase the deadweight loss from the tax. decrease government revenue and increase the deadweight loss from the tax. decrease government revenue and decrease the deadweight loss from the tax. Domestic Supply PRICE World Price Domestic Demand QUANTITY In the figure above, producer surplus in this market after trade is decreasing by A decreasing by B + D. decreasing by B. decreasing by A + B + D. 20 Demand 12 QUANTITY In the graph above, if a price ceiling is imposed at a price of $2, it creates a shortage of 12 units surplus of 16 units surplus of 12 units shortage of 16 units