Question 5 (2 points) Assume all beer is identical. In 2017, the minimum price of beer in Ontario was $1.25 per bottle. In 2018, Doug Ford's election campaign promised "buck-a-beer", which reduced the minimum price to $1.00 per bottle. Doug Ford was elected and the buck-a-beer policy was implemented in 2018. Supply and demand for beer in Ontario are represented by the curves in the image. The curves did not change as a result of the policy.-2-75 Price ($) -2-25 2 -1-75 -1:5 -1-25 -0:75 0.625 0.55 -0:5 500 1000 1500 2008 .-0 25 1200 -Quantity (bottles) -0!5b) What was producer surplus before the policy change? (2 points) 281.25 720 O 180 875Question 20 (2 points) Which of the following statements are true about the Marginal Product of Labor? (2 points, 0.5 per correct selection) O The MPL is the change in output produced by an extra unit of labor The MPL is always positive The MPL is the slope of the Marginal Cost curve The MPL curve shifts upwards when the amount of fixed input increases Previous Page Next Page Page 6 of 7