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SPP24 SPP24
wrote...
Posts: 454
4 years ago



Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. The consumer surplus at the initial equilibrium is shown by:

▸ Triangle A + Rectangle B + Triangle C.

▸ Triangle A + Rectangle B.

▸ Triangle A + Rectangle B + Rectangle D.

▸ Triangle A.
Textbook 
Survey of Economics: Principles, Applications and Tools

Survey of Economics: Principles, Applications and Tools


Edition: 6th
Authors:
Read 207 times
23 Replies
Replies
wrote...
4 years ago
Triangle A + Rectangle B + Triangle C.
wrote...
4 years ago



Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. The consumer surplus at the new equilibrium with $2 tax is shown by:

▸ Triangle C + Rectangle E.

▸ Triangle A.

▸ Triangle A + Rectangle B.

▸ Rectangle B + Triangle C.
Answer verified by a subject expert
JennyyyJennyyy
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Posts: 391
4 years ago
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Related Topics

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4 years ago
Thanks for your help!
wrote...
4 years ago



Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the extra money consumers must pay for the 100,000 pounds of fish they purchase?

▸ Triangle A

▸ Rectangle B

▸ Rectangle B + Triangle C

▸ Triangle A + Rectangle B
wrote...
4 years ago
Rectangle B
wrote...
4 years ago



Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the loss of consumer surplus on the fish that are NOT consumed because of the tax?

▸ Rectangle B + Triangle C

▸ Triangle C + Rectangle E

▸ Triangle C

▸ Rectangle B + Rectangle D
wrote...
4 years ago
Triangle C
wrote...
4 years ago
TY
wrote...
4 years ago
Welcome Slight Smile
SPP24 Author
wrote...
4 years ago



Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the tax revenue raised by the government?

▸ Rectangle B

▸ Rectangle B + Triangle C

▸ Triangle A

▸ Rectangle B + Rectangle D
wrote...
4 years ago
Rectangle B
wrote...
4 years ago



Figure 6.9 depicts a hypothetical fish market with a horizontal supply curve. Suppose the government imposes a tax of $2 per pound of fish, and the tax is paid in legal terms by producers. Which of the following shows the difference between the total burden of the tax and the amount of revenue collected by the government?

▸ Triangle A

▸ Rectangle B

▸ Triangle C

▸ Rectangle E
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