Question

Based on the figure below, choose all of the following options that are true. Price $15 $14 $13 $12 $11 $10 $9 Price floor = $9 $8 $7 $6 $5 $4 $3 $2 $1 0 10 20 30 40 50 60 70 80 90 100 Quantity Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box. The market is efficient. Total surplus is higher than it would be at market equilibrium. Total surplus is lower than it would be at market equilibrium. Producer surplus is lower than it would be at market equilibrium. Consumer surplus is lower than it would be at market equilibrium.

          Based on the figure below, choose all of the following options that are true.
Price
$15
$14
$13
$12
$11
$10
$9
Price floor = $9
$8
$7
$6
$5
$4
$3
$2
$1
0 10 20 30 40 50 60 70 80 90 100
Quantity
Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box.
The market is efficient.
Total surplus is higher than it would be at market equilibrium.
Total surplus is lower than it would be at market equilibrium.
Producer surplus is lower than it would be at market equilibrium.
Consumer surplus is lower than it would be at market equilibrium.

Based on the figure below, choose all of the following options that are true.
Price
1514
1312
1110
9
Price floor =9
87
65
43
21
0 10 20 30 40 50 60 70 80 90 100
Quantity
Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box.
The market is efficient.
Total surplus is higher than it would be at market equilibrium.
Total surplus is lower than it would be at market equilibrium.
Producer surplus is lower than it would be at market equilibrium.
Consumer surplus is lower than it would be at market equilibrium.

Added by Autumn C.

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