The Number of "Gore in 2004" Buttons Demanded on a Certain

question 2

Multiple Choice

The number of "Gore in 2004" buttons demanded on a certain university campus is given by D(p) = 100 - p, where p is the price of buttons measured in pennies.The supply function is S(p) = p.The current administration manages to enforce a price ceiling of 40A2 per button.The effect on net consumer's surplus is

• A)an increase of $5.50.
• B)an increase of $3.50.
• C)no change.
• D)a decrease of $3.50.
• E)a decrease of $5.50.

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Definitions:

Owners

Individuals or entities that hold the ownership interest in a company, entitling them to the residual profits and assets after liabilities are settled.

Corporation's Charter

A legal document that establishes a corporation, outlining its structure, operations, and objectives, issued by a governmental or other authorized entity.

Articles of Incorporation

Official papers submitted to a government agency for the purpose of officially registering the formation of a corporation.

Mutual Agency

Act of a single partner is binding on all members of the partnership.