Reference: Ref 8-11 (Figure: Price Ceilings and Consumer Valuation) Refer

question 190

Multiple Choice

Reference: Ref 8-11 (Figure: Price Ceilings and Consumer Valuation) Refer to the figure. Suppose a price ceiling of $3 goes into effect. If the goods sold are allocated only to the highest value users, the total consumer surplus in the market would be:

• A) $180.
• B) $30.
• C) $120.
• D) $150.

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