-Refer to Exhibit 5-3 Which Shows the Demand and Supply

Multiple Choice

-Refer to Exhibit 5-3 which shows the demand and supply of a college athlete.Suppose that NCAA rules limit the amount that the college can pay this athlete,such that their payment can not exceed the cost of attending the college (currently $8,000) .The impact of this ruling would be a loss of income to the athlete of __________ and an equal gain in consumers' surplus to the college represented by ________________.

A) $2,000; area 2
B) $8,000; area 3
C) $10,000; area 2 + 3
D) $2,000; area 1 + 2