Please read these multiple choice and look if I provided the right answer if not then please provide the right answer thanks.

$17,000 $19,000 Question 23 (1 point) . Saved Bae is willing to pay up to $160 for a particular pair of boots. She is able to buy the boots for $120. The marginal cost of producing the boots is $70. Which of the following is TRUE regarding the economic surplus associated with her purchase of the boots? Consumer surplus is $40, and producer surplus is $50. Consumer surplus is $50, and producer surplus is $40. Consumer surplus is $90, and producer surplus is $120. Consumer surplus and producer surplus are the same. Question 24 (1 point) Saved When trade is voluntary, who gains from it? O Either the seller or the buyer gains but not both. O Both the seller and the buyer gain, although not necessarily equally. h the seller and the buyer must gain equal amounts.Question 16 (1 point) Saved 6 Which of the following statements is TRUE regarding economic efficiency? OO Efficient outcomes will make everyone better off. 9 Efficient outcomes are also equitable. O Efficient outcomes rarely make everyone happy. 12 O Efficiency is associated with minimizing economic surplus. 15 Question 17 (1 point) Saved Which of the following is an example of a quantity quota? 18 A city sets a limit on the maximum rent that tenants pay. A city awards a construction firm a monopoly over all public housing construction. 21 A city imposes a tax on all people who move into the city. A city enforces zoning laws that restrict the number of housing units. 24 Question 18 (1 point) Saved On a market graph, economic surplus can be identified as the area that is to the:Question 32 (1 point) Saved 6 Which of the following claims involves positive analysis? Those with high incomes do not pay a fair share of their income in taxes. 9 O Firms should pay workers based on their productivity. 12 Higher prices will cause the purchasing power of income to fall. Wages should be higher so that those who work have a living wage. 4 15 Question 33 (1 point) Saved Which of the following alternatives would yield the greatest economic surplus? 17 18 the most wasteful option the most economically equitable option 20 21 the one that will make everyone happy the most economically efficient option 23 24 Submit Quiz 33 of 33 questions saved MacBook ProQuestion 18 (1 point) Saved On a market graph, economic surplus can be identified as the area that is to the: right of the quantity, above the demand curve, and below the supply curve. left of the quantity, above the demand curve, and below the supply curve. right of the quantity and between the demand and supply curves. left of the quantity and between the demand and supply curves.Question 15 (1 point) Saved Which of the following is caused by a subsidy for sellers of a particular item? (i) an increase in supply (ii) an increase in quantity sold (iii) a leftward shift of demand curve O (i), (ii), and (iii) (1) and (ii) (ii) and (iii) O only (1)Question 19 (1 point) Saved Which of the following statements is correct? O The incidence of a tax is determined by the statutory burden of the tax. O Taxes lead to shortages. O Regardless of the statutory burden of a tax, the actual economic burden will depend on the relative elasticities of demand and supply. C The economic burden of a quota is always equivalent to the economic burden of a tax.Question 29 (1 point) ~ Saved (Figure: Market for Plastic Bags) In the market for plastic bags shown here, the original equilibrium price is 50 cents per bag. In an effort to reduce plastics usage, a tax is then placed on the buyers of plastic bags. The incidence of the tax on the buyer is _% and the incidence of the tax on the seller is %. Price ($ per bag) $1.00 Supply curve $0.60 12 $0.50 $0.40 15 Old demand New demand 18 40 50 Quantity of plastic bags (millions) 21 60, 40 20, 80 24 40, 60 50, 50 Question 30 (1 point) SavedQuestion 1 (1 point) Saved A government leader determines that the 5% unemployment rate is too high. She asks her staff to research policy options to reduce the rate and a few weeks later is given four options. Each option would reduce the rate by a different amount and at a different cost. The leader studies the options and chooses the one she feels is best for the country. In order, what types of analysis were used in this three-stage chain of events? positive; positive; normative O positive; normative; positive normative; positive; normative O normative, positive; positiveQuestion 20 (1 point) Saved A subsidy is (i) a negative tax. (ii) a tax rebate given to those who make a specific choice. (iii) a payment made by the government to those who make a specific choice. (1), (ii), and (iii) O.(1) and (ifi) O (ii) and (ifi) O (i) only Question 21 (1 point) Saved (Figure: Kenyan Labor Market) The labor market begins in equilibrium. Then, the government of Kenya implements a minimum wage of 15,000 Kenyan shillings per month. After the implementation of the minimum wage, the number of workers hired people. Wage (Kenyan shillings Supply per month) 20,000relationships. predictions. Question 5 (1 point) Saved Jorge sells a hammock for $85. His marginal cost for one hammock is $40, and his average cost is $50. What is Jorge's producer surplus on the sale of one hammock? O.-$5 $45 $35 $40 Question 6 (1 point) Saved (Figure: Markets) In the set of figures shown, B C D Price Price Supply Price Price Supply Supply Pold Pold Pold Pold DemandQuestion 6 (1 point) Saved (Figure: Markets) In the set of figures shown, A B C D Price Supply Price Supply Price Supply Price Supply Paid Pold Pold Pold Demand Demand Demand Demand Quantity Quantity Quantity Quantity figure A is a binding price floor. figure B is a binding price floor. figure C is a binding price floor. figure D is a binding price ceiling.Question 27 (1 point) Saved (Figure: Market for Timber) Refer to the figure which shows the market for timber. Which of the following statements is correct? Price New supply $25,000 Old supply $20,000 $19,000 $17,000 Demand $7,000 10,000 12,000 Quantity There is no statutory burden for this tax. The economic burden of this tax is greater on the buyer. O The economic burden of this tax is being split equally between buyer and seller. The economic burden of this tax is greater on the seller. Question 28 (1 point) Saved