-In the Above Figure, Suppose That the Government Sets a Limit

question 142

Multiple Choice

-In the above figure, suppose that the government sets a limit to production at 10 units of output and the price rises to $4. In comparison to a competitive market the consumer surplus would fall by

• A) $0.
• B) $10.
• C) $15.
• D) $20.

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Definitions:

Legal Positivists

Scholars or jurists who believe that the validity of a law is not related to its morality but to its creation by a recognized legal authority.

Genuine Controversy

Genuine controversy refers to a real and substantial dispute or disagreement between parties, significant enough to justify judicial intervention and resolution by a court.

Ripe

In legal context, a matter that is ready for adjudication because all preliminary issues have been dealt with.

Legislative History

The recorded events, discussions, and documentation leading up to the passing of a law.