Use the Following to Answer Questions

question 313

Multiple Choice

Use the following to answer questions:
Figure: Price Ceilings and Consumer Valuation
-(Figure: Price Ceilings and Consumer Valuation) Refer to the figure. Suppose a price ceiling of $3 goes into effect. What is the loss of consumer surplus due to the random allocation of price-controlled goods compared to the allocation only to the highest-value users?

• A) $90
• B) $60
• C) $150
• D) $30