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Scenario: Consider the Following Figure, Which Shows a Competitive Market

Question 10

Multiple Choice

Scenario: Consider the following figure, which shows a competitive market. Suppose the government imposes a price ceiling policy of $2 on this market.
Scenario: Consider the following figure, which shows a competitive market. Suppose the government imposes a price ceiling policy of $2 on this market. -Refer to the above scenario.After the imposition of this $2 price control policy,what is the amount of consumer surplus in the market? A) 0 B) $50 C) $100 D) $120
-Refer to the above scenario.After the imposition of this $2 price control policy,what is the amount of consumer surplus in the market?


A) 0
B) $50
C) $100
D) $120

Correct Answer:

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