Question 33 of 70 tool-timer (Figure: Market for Enplanements) From the year 2000 to 2001, the demand curve for air travel shifted inward, from D2000 to D2001. In 2000, the equilibrium price and quantity were $122.22 and 148.9 million enplanements, respectively. In 2001, the equilibrium price and quantity fell to $104.82 and 123.6 million enplanements, respectively. The loss in producer surplus attributable to the decrease in demand is equal to area: Price ($/enplanement) $122.22 104.82 B D-2000 C D-2001 19.78- 123.6 148.9 Quantity of enplanements (millions) O B. O A + B. A. O B + C.HR MIN SEC stion 36 of 70 > (Figure: Market for Asparagus I) Relative to the initial market equilibrium, at a price ceiling of $2, what is the amount of surplus transferred from producers to consumers? Price of asparagus $10 ($/pound) D 1 2 3 4 5 6 7 8 9 10 Quantity of asparagus (1,000s of pounds) $4,000 $500 $1,000 $2,000Question 37 of 70 The supply and demand for solar panels are given by @ = 5P - 5,000 and @" = 15,000 -5P, where P is price per solar panel and @ measures the quantity of solar panels. Suppose the government provides a $500 subsidy per solar panel. The total cost of the subsidy to the government is: $3.125,000.00. $2,500,000.00. O $7,800,000.00. $4,500,000.00.HR MIN SEC stion 41 of 70 > (Figure: Good Y and Good X V) Suppose the budget constraint shifted from constraint 2 to constraint 1. What could have caused this change? Quantity of | good Y 18 - 16 14 - Budget constraint 2 12 10 - Co Budget constraint ] N 0 2 4 6 8 10 12 14 16 18 20 Quantity of good X O an increase in the price of good X and no change in the price of Y O a decrease in income and an increase in the price of good X relative to that of good Y O a decrease in income O a decrease in the price of good X relative to that of good Y