Refer to Exhibit 4. If there is no tax placed on the product in this market total surplus is the area ?

Related Mcqs:

1. Refer to Exhibit 4. If a tax is placed on the product in this market total surplus is the area ?

   A. A + B + C + D+ E +F
   B. A + B + C + D
   C. A + D
   D. B + C + E + F

2. Refer to Exhibit 4. If a tax is placed on the product in this market consumer surplus is the area ?

   A. D
   B. A
   C. A + B + E
   D. A + B +C + D

3. Refer to Exhibit 4. If there is no tax placed on the product in this market, producer surplus is the area ?

   A. A + B + E
   B. D
   C. C + F
   D. C + D + F

4. Refer to Exhibit 4. If a tax is placed on the product in this market, producer surplus is the area?

   A. A + B + E
   B. A + B + C + D
   C. A
   D. D

5. Refer to Exhibit 4. If a tax is placed on the product in this market tax revenue paid by the buyers is the area ?

   A. B + C + E + F
   B. B
   C. B + C
   D. A

6. Refer to Exhibit 4. If a tax is placed on the product in this market tax revenue paid by the sellers is the area ?

   A. C + F
   B. A
   C. B
   D. C

7. Refer to Exhibit 4. If there is no tax placed on the produced in this market consumer surplus is the area ?

   A. C + D + F
   B. A
   C. A + B + E
   D. D + C + B

8. Refer to Exhibit 4. If a tax is placed on the product in this market. deadweight loss is the area ?

   A. B + C + E + F
   B. E + F
   C. B + C
   D. A + B + C + D

9. Refer to Exhibit 4. Which of the following is true with regard to the burden of the tax in Exhibit 4 ?

   A. The buyers pay a larger portion of the tax because demand is more inelastic than supply
   B. The sellers pay a larger portion of the tax because supply is more elastic than demand
   C. The buyers pay a larger portion of the tax because demand is more elastic then supply
   D. The sellers pay a larger portion of the tax because supply is more inelastic than demand

10. With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?

    A. 20 calculators increase
    B. 25 calculators decrease
    C. 25 calculators increase
    D. 30 calculators increase