Multiple Choice
Use the following to answer question: 
-(Table: Pumpkin Market) There are two consumers,Andy and Ben,in the market for pumpkins.Their willingness to pay for each pumpkin is shown in the table Pumpkin Market.There are two producers of pumpkins,Cindy and Diane,and their costs are also shown.The equilibrium price for pumpkins is $8 and the equilibrium quantity is 5.If Cindy sells one fewer pumpkin and Diane sells one more pumpkin than in equilibrium,total surplus will _____ by _____.
A) increase;$16
B) increase;$14
C) decrease;$1
D) decrease;$2
Correct Answer:
Verified
Correct Answer:
Verified
Q74: Use the following to answer question: <img
Q75: Alex is willing to buy the last
Q76: Use the following to answer question: <img
Q77: Peanut butter is an inferior good.If there
Q78: Use the following to answer question: <img
Q80: Assuming that gasoline and cars are complements
Q81: If total surplus falls,there may have been
Q82: Prices are important economic signals because they
Q83: Use the following to answer question: <img
Q84: If the market for tickets to the