Multiple Choice
Refer to the accompanying figure. Suppose a consumer protection group convinces the government to impose price controls in this market. If the government requires cheese to be sold for less than the equilibrium price, then, relative to before the price controls, total consumer surplus in the market:
A) would increase because consumers would be able to purchase the same quantity of cheese at a lower price.
B) would increase because consumers would be able to purchase more cheese at a lower price.
C) could either increase or decrease.
D) would decrease because of the reduction in equilibrium price.
Correct Answer:

Verified
Correct Answer:
Verified
Q23: Casey earns $150 a week and consumes
Q24: Refer to the accompanying figure. When Jeff
Q25: Angela is currently playing five games of
Q26: Refer to the accompanying figure. If Laura
Q27: The law of demand indicates that as
Q29: If a consumer reallocates his or her
Q30: Refer to the accompanying figure. Suppose the
Q31: Growing rice requires extensive irrigation in California.
Q32: In some countries, medical care is provided
Q33: Higher education is a _ and assigned