Refer to Table 5.2. The table above lists the highest prices five consumers are willing to pay for a theatre ticket. If the price of one of the tickets is $10, ___________.Correct! everyone will buy a ticket except for Esther only Anya and Basil will buy tickets Celeste’s consumer surplus is $25 the total consumer surplus from the purchase of tickets will be $61 Question 5Tips0 / 1 ptsFigure 5.3 Figure 5.3 shows the market for tiger shrimp. The market is initially in equilibrium at a price of $15 and a quantity of 80. Now suppose producers decide to cut output to 40 in order to raise the price to $18.Refer to Figure 5.3. The value of the dead-weight loss at a price of $18 is ________.Correct answer $100 You Answered $180 $660 $1 040 Quiz score: 4 out of 5PreviousNextSubmission details:Time: 19 minutesCurrent score: 4 out of 5Kept score: 4 out of 5
Question
Refer to Table 5.2. The table above lists the highest prices five consumers are willing to pay for a theatre ticket. If the price of one of the tickets is 10, ___________.Correct! everyone will buy a ticket except for Esther only Anya and Basil will buy tickets Celeste’s consumer surplus is 25 the total consumer surplus from the purchase of tickets will be 15 and a quantity of 80. Now suppose producers decide to cut output to 40 in order to raise the price to 18 is ________.Correct answer 180 1 040 Quiz score: 4 out of 5PreviousNextSubmission details:Time: 19 minutesCurrent score: 4 out of 5Kept score: 4 out of 5
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Question 10Not answeredMarked out of 2.50Flag questionTipsMCQConsumerWillingness to PayAnya$24Basil$20Celeste$15Dralon$12Esther$7The table above lists the highest prices five consumers are willing to pay for a theatre ticket. If the price of one ticket rises from $10 to $19, __________.Question 10Answera.only three tickets will be soldb.no one will buy a ticketc.consumer surplus decreases from $31 to $6d.consumer surplus increases from $44 to $71
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