Question 5 (1 point) Consider a market for hockey tickets with three consumers, each willing to buy just one ticket. Ryan is willing to pay
Question 5 (1 point) Consider a market for hockey tickets with three consumers, each willing to buy just one ticket. Ryan is willing to pay $10 for a hockey ticket, Jake is willing to pay $20, and Grace is willing to pay $30. If the market price for a ticket drops from $25 to $15, what is the change in total consumer surplus? $10 $5 $15 $20Potential seller Cost Mcdonald's $1 Denny's $2 Five Guys $4 Burger King $6 Wendy's $8 Consider the market for hamburgers. There are 5 potential sellers that want to sell one hamburger each. Their cost for a hamburger is given in the table above. Suppose that the price for one hamburger is $6. What is the total producer surplus? 9 12 10 O 11Market for Rollercoaster Rides $7.00 $6.00 $5.00 $4.00 Price (per ride) $3.00 $2.00 $1.00 -B- $0.00 0 10 20 30 40 50 60 Quantity of Rides Consider the market for the number of rides on a rollercoaster shown above. What is the total consumer surplus? $80 $60 $20 $0Market for Cars $12 $10 $8 Price $6 $4 $2 D 0 100 200 300 400 500 600 700 800 900 1000 Quantity Consider the market for cars shown above and suppose a quota of 200 cars is imposed on the market. The total quota rent from this quota is equal to: $1000 $1200 $800 $1400
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