If a Price Ceiling of $12 Is Set in the Market

question 65

Multiple Choice

If a price ceiling of $12 is set in the market shown in the graph, what will consumer surplus be?

• A) $260
• B) $130
• C) $88
• D) $60

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Definitions:

Investment

The allocation of resources, usually money, with the expectation of generating an income or profit.

Retirement Fund

A Retirement Fund is a pool of funds contributed by employees, employers, or both for the future financial security of retirees.

Withdrawals

The act of taking money out of an account which can affect the account balance and interest calculations.

Monthly Payments

Regular payments made every month, commonly associated with loans, mortgages, or subscription services.