Question 7 Not yet answered Price Per Unit Points out of 1.00 $20 Flag question Supply $12 $6 Demand Quantity of Alcohol 400 The graph above shows the demand and supply of a good. Calculate the Gains from Trade in equilibrium. (Do not include a "$" sign in your response.) Answer:Question 8 Which of the following would cause producer surplus (PS) to rise, ceteris paribus? Not yet answered Points out of 1.00 O a. An increase in the price of the good. Flag question O b. It cannot be determined given the information. O c. A contraction of demand. O d. A decrease in the price of the good.Ques'm" 9 Suppose that Gains from Trade for a good was $100. The Producer Surplus was $40. Calculate Consumer Surplus. Not yet answered ' u n , , (Do Not Include a $ Sign In your response.) Points out of 100 \\7 Flag question Question 10 Not yet answered Price Per Unit Points out of 1.00 Flag question $25 Supply $20 $15 $10 $5 Quantity 1 2 3 4 5 6 The graph above shows the supply for a good. Calculate the producer surplus for when price is $10. (Do not include a "$" sign in your response.) Answer:Question 11 Not yet answered Price Per Points out of 1.00 Unit 'F Flag question Quantity 10 20 30 4O 50 The graph above shows the demand for a good. Each of the orange points has a letter to the upper right of it. Using the letters as the points in the corner of the shape, choose the shape that matches the Consumer Surplus when the price is $20. 0 a. Polygon BCDE O b. Triangle ABC 0 c. Triangle AFG 0 d. Triangle ADE 0 e. Polygon DCFG Question 12 Not yet answered Price Per Points out of 1.00 Unit Flag question $5 Supply B $4 C D $3 F $2 G $1 Quantity 5 10 15 20 25 30 The graph above shows the supply for a good. Each of the orange points has a letter to the upper right of it. Using the letters as the points in the corner of the shape, choose the shape that matches the Producer Surplus when the price is $4. O a. Polygon ABCD O b. Polygon CDEF O c. Triangle EFG O d. Triangle CDG O e. Triangle ABGQuestion 1 3 Not yet answered Points out of 100 F Flag question Price Per Unit Consider the statements below. 1. Consumer Surplus is represented by Area B. Quantity of Alcohol 2. Gains from Trade are represented by the sum of Areas A, B and C. O a. Statement 1 is true, but Statement 2 is false. 0 b. Statement 2 is true, but Statement 1 is false. 0 c. Both Statements are true. 0 d. Both Statements are false