Suppose That the Equilibrium Price in the Market for Tomatoes

question 48

Multiple Choice

Suppose that the equilibrium price in the market for tomatoes is $3 per pound.If a law reduced the maximum legal price for tomatoes to $2 per pound,

• A)any possible increase in consumer surplus would be larger than the loss of producer surplus.
• B)any possible increase in consumer surplus would be smaller than the loss of producer surplus.
• C)the resulting increase in producer surplus would be larger than any possible loss of consumer surplus.
• D)the resulting increase in producer surplus would be smaller than any possible loss of consumer surplus.

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Definitions:

Femur

The longest and strongest bone in the human body, extending from the hip to the knee.

Thigh Bone

The femur, which is the longest and strongest bone in the human body, located in the upper leg.

Sutures

Threads or strands used to close wounds or surgical incisions, typically absorbed by the body or removed after healing.

Skull

The bony structure forming the head, protecting the brain and supporting the structures of the face.