Test 2 Table and Figures

Refer to Figure 5-5. At a price of $70 per unit, sellers' total revenue equals

$1050.

Refer to Figure 7-19. If the government imposes a price ceiling of $55 in this market, then total surplus will be

$250.00.

Refer to Table 7-1. If the price of the product is $122, then the total consumer surplus is

$41.

Refer to Figure 7-14. If the market price increases to $130 due to an increase in demand, then producer surplus is

$900.

Refer to Figure 7-24. If the government imposes a price floor at $18, then consumer surplus is

AGH.

Refer to Figure 5-3. Which demand curve is perfectly elastic?

D