SECTION#_\\0 NAM NAME_O\iva. Noemi PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 6 and 7. Supply = MC Us %3D Price $100 BLoquceL encbiR cinA coumure anbpre.cm $50 100 200...

Question 8

Extracted text: SECTION#_\\0 NAM NAME_O\iva. Noemi PRINT LAST NAME, FIRST NAME Use the graph below to answer questions 6 and 7. Supply = MC Us %3D Price $100 BLoquceL encbiR cinA coumure anbpre.cm $50 100 200 Quantity 6. The minimum price this seller will accept for the 100th unit of output is: $0. $50. $100. a. ъ. C. d. impossible to determine from the graph. when the price increases from $50 to $100. $2,500; $10,000 $2,500; $20,000 7. Producer surplus increases from d. b. to $50; $100 $5,000; $10,000 C. d. 8. The difference between the highest price a consumer will pay and the actual market price is called a seller will accept is called marginal benefit; marginal cost marginal cost; marginal benefit producer surplus; consumer surplus consumer surplus; producer surplus ; the difference between the actual market price and the lowest price a. 1o tbiriW IannoM wwobsdf b. C. d. If Betty is willing to pay $45 for a new purse but only has to pay $30 for the purse, Betty: will enjoy consumer surplus if she purchases the purse. will experience a decline in consumer satisfaction if she purchases the purse. cannot afford to purchase the purse. must have a demand curve that is horizontal at a price of $45. 9. a. b. C. d. Assuming demand is downward-sloping and everything else remains the same, an increase in the supply of a product leads to: an increase in consumer surplus. a decrease in consumer surplus. no change in consumer surplus. no change in producer surplus. 10. a. b. C. d.