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1 Use the following figure to answer the following question. Price 5 3 2 D 3,000,000 4,750,000 6,000,000 Quantity 4,250,000 5,000,000 What will be the

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Use the following figure to answer the following question. Price 5 3 2 D 3,000,000 4,750,000 6,000,000 Quantity 4,250,000 5,000,000 What will be the impact of a price ceiling on wheat at $5? O There will be a surplus of 1,750,000 units There will be a shortage of 3,000,000 units O There will be a shortage of 1,750,000 units There will be a surplus of 3,000,000 units There will not be a surplus or a shortage in this market.What is the long-run consequence of a (binding) price ceiling? o A surplus will continue to exist and will grow smaller over time. Q A shortage will continue to exist and will grow larger over time. The amount of the surplus will not change. I / j A shortage will continue to exist and will grow smaller over time. f A A surplus will continue to exist and will grow larger over time. \\._/ Refer to the following table to answer the question below: Max Willingness to Pay for a Container of Kombucha MC=ATC= $6 Isabelle is the only provider of Kombucha in two cities (city A and city B). Assuming she maximizes prot, what is her total prot from selling Kombucha in the two cities if she practices price discrimination and charges one price in city A and a different price in city B? 0 $44 0 $30 m $90 \\_/' A $98 \\_/ O $22

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