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question 114

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Use the following to answer question: 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 Andy consumes one more pumpkin and Ben consumes one fewer pumpkin than in equilibrium,total surplus will _____ by _____. A) increase;$17 B) increase;$15 C) decrease;$8 D) decrease;$3
-(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 Andy consumes one more pumpkin and Ben consumes one fewer pumpkin than in equilibrium,total surplus will _____ by _____.


Definitions:

Authorized Depository

A financial institution authorized to accept deposits from individuals and businesses.

Form 941

Form 941 is a quarterly tax form that employers use to report income taxes, social security tax, or Medicare tax withheld from employees' paychecks.

Payroll Tax Depositor

An entity or individual responsible for depositing payroll taxes collected from employers and employees to the appropriate tax authorities.

Tax Liability

The total amount of tax owed to the government by an individual, corporation, or other entity.

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