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(18) Consider the demand curves shown and assume that buyers in this market are initially at point V. Following a decrease in income, you would
(18) Consider the demand curves shown and assume that buyers in this market are initially at point "V". Following a decrease in income, you would expect buyers to end up at which point? W Y 2 Q a. Z. b. W. c. X. d. y. e. V.(19)Which diagram reflects the market for Clarks footwear after Vibez Kartel released the "Clarks" song. P X P Y Z XIX P P Q Q a. V. b . y . c. X. d. Z. e. W.(21 ) Producer surplus is represented by the area P Supply X Z Demand Q a. X+y. b. Y+Z. c. X. d. X+Y+Z. e. y.(23) A tax equal to f-h is imposed on the market shown. What is the total (consumer and producer) surplus before the tax is imposed? Supply R E X S h Z Demand m n Q a. Q+T+V+X b. V+X C. Q+R+S+T+V+X d. Q+R+S+T e. R+S+V+X
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