QUESTION 1

1. What is the total surplus associated with quantitity Q1 in this market?(select all that apply)
2. A
3. B
4. C
5. D
6. -E
7. F

QUESTION 2

2. hw4 pic 1.pdf
4. What is the total surplus associated with quantitity Q3 in this market?(select all that apply)
5. A
6. B
7. C
8. D
9. -E
10. F

QUESTION 3

1. hw4 pic 1.pdf
3. What is the maximum total surplus in this market?(select all that apply)
4. A
5. B
6. C
7. D
8. -E
9. F

QUESTION 4

1. Copy of
2. hw4 pic 1.pdf
4. What is the total surplus associated with the competitive market equilibrium in this market? (select all that apply)
5. A
6. B
7. C
8. D
9. -E
10. F

QUESTION 5

1. hw4 pic 2.pdf
4. This graph shows the impact of a:
5. binding price floor
6. nonbinding price floor
7. binding price ceiling
8. nonbinding price ceiling
9. none of the above

QUESTION 6

1. Copy of
2. hw4 pic 2.pdf
5. At the price P bar, there is a ____ in this market:
6. shortage
7. surplus
8. none of the above

QUESTION 7

2. Relative to the competitive market equilibrium, at price P bar, firms lose profit equal to area(s):(select all that apply)
3. A
4. B
5. C
6. D
7. E

QUESTION 8

1. hw4 pic 2.pdf
4. Relative to the competitive market equilibrium, at price P bar, some consumers gain and some consumers lose.Which area do consumers gain?(select all that apply)
5. A
6. B
7. C
8. D
9. E

QUESTION 9

1. hw4 pic 2.pdf
4. Relative to the competitive market equilibrium, at price P bar, some consumers gain and some consumers lose.Which area do consumers lose?(select all that apply)
5. A
6. B
7. C
8. D
9. E

QUESTION 10

1. hw4 pic 2.pdf
4. What is the dead weight loss associated with price P bar?(select all that apply)
5. A
6. B
7. C
8. D
9. E

QUESTION 11

1. hw4 pic 3.pdf
3. What is the total tax burden for consumers (total loss of consumer surplus)?(select all that apply)
4. A
5. B
6. C
7. D
8. E
9. F

QUESTION 12

1. Copy of
2. hw4 pic 3.pdf
4. What is the total tax burden for producers (total loss of producer surplus)?(select all that apply)
5. A
6. B
7. C
8. D
9. E
10. F

QUESTION 13

1. hw4 pic 3.pdf
3. What is the government's revenue from this tax?(select all that apply)
4. A
5. B
6. C
7. D
8. E
9. F

QUESTION 14

1. hw4 pic 3.pdf
3. What is the dead weight loss associated with this tax?(select all that apply)
4. A
5. B
6. C
7. D
8. E
9. F

QUESTION 15

1. hw4 pic 3.pdf
3. Who is paying most of the tax here?
4. firms
5. consumers
6. neither

QUESTION 16

1. Why is the party you selected above paying more of the tax?
2. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).

QUESTION 17

1. hw4 pic 4.pdf
4. What is shown here?
5. positive production externality
6. negative production externality
7. positive consumption externality
8. negative consumption externality
9. none of the above

QUESTION 18

1. hw4 pic 4.pdf
4. In this case the competitive market outcome is inefficient because the market produces _____.
5. too much quantity
6. not enough quantity
7. none of the above

QUESTION 19

2. hw4 pic 4.pdf
5. The dead weight loss associated with the market equilibrium is area ____ (select all that apply)
6. A
7. B
8. C
9. D
10. E
11. F

QUESTION 20

3. hw4 pic 4.pdf
6. Briefly describe a policy that would eliminate the dead weight loss in this market.