Deck 9: General Equilibrium, Efficiency, and Equity

Question 1

A)
B)
C)
D)

Answer 1

Question 2

A)
B)
C)
D)

Answer 2

Question 3

A)
B)
C)
D)

Answer 3

Question 4

A)
B)
C)
D)

Question 5

A) $9.76
B) $6.10
C) $0
D) $11.25

Question 6

A) $9.76
B) $2.37
C) $5.63
D) $4.00

Question 7

A) 20.5 million boxes
B) Zero
C) 38.8 million boxes
D) 46.25 million boxes

Question 8

A) 6.22 million gallons
B) 1.48 million gallons
C) Zero
D) 50.56 million gallons

Question 9

A)
B)
C)
D)

Question 10

A)
B)
C)
D)

Question 11

A) $2.37
B) $4.37
C) $0.37
D) $3.39

Question 12

A) $9.66
B) $9.76
C) $7.76
D) $11.76

Question 13

A) The price of both milk and cereal increase
B) The price of milk increases and the price of cereal decreases
C) The price of milk decreases and the price of cereal increases
D) The price of both milk and cereal decrease

Question 14

A) Consumers purchase more milk and cereal
B) Consumers purchase less milk and cereal
C) Consumers purchase more milk and less cereal
D) Consumers purchase less milk and more cereal