4. Producer surplus PS is a. $128 b. $129 c. $130 d. $131 5. Total surplus TS is a. $221 b. $222 c. $223 d. $224 6. When the government imposes a price ceiling = $12, disequilibrium between quantity demanded and quantity supplied results in a. Deficit = 10 b. Surplus = 10 c. Deficit = 14 d. Surplus = 14

4. Producer surplus PS is a. $128 b. $129 c. $130 d. $131 5. Total surplus TS is a. $221 b. $222 c. $223 d. $224 6. When the government imposes a price ceiling = $12, disequilibrium between quantity demanded and quantity supplied results in a. Deficit = 10 b. Surplus = 10 c. Deficit = 14 d. Surplus = 14

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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