-Refer to the Diagram Above

question 66

Multiple Choice

-Refer to the diagram above.Assume that a price ceiling is imposed at point G,i.e. ,the price is now represented by the distance 0G.The triangle FEC represents the

• A) increase in producer surplus due to the price ceiling.
• B) reduction in consumer surplus due to the price ceiling.
• C) increase in total economic surplus due to the price ceiling.
• D) the value of the surplus caused by the price ceiling.
• E) decrease in total economic surplus due to the price ceiling.

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