Suppose John is willing to pay $15 for one unit of Good X, Paul is willing to pay $10, George is willing to pay $9 and Ringo is willing to pay $5. When they arrive at the marketplace, they nd that the seller is charging $8 for each unit of Good X. This implies that: Select one alternative: 0 John will buy and get a consumer surplus of $5. 0 George will buy and get a consumer surplus of $1. 0 Ringo will buy and get a consumer surplus of $3. 0 Paul will buy and get a consumer surplus of $3. In recent times, the market price of fresh salmon has increased, while the equilibrium quantity traded of salmon has decreased. Which of the following explains this change in price and quantity traded? Select one alternative: 0 Supply of fresh salmon has increased while demand has remained unchanged. 0 Demand for fresh salmon has decreased while supply has remained unchanged. 0 Supply of fresh salmon has decreased while demand has remained unchanged. 0 Demand for fresh salmon has increased while supply has remained unchanged. If the number of sellers producing Good A increases and the number of buyers of Good A increases, then what happens to equilibrium price and quantity traded of Good A? Select one alternative: O Both price and quantity traded definitely rise/increase. O Price falls, but we cannot be certain about how quantity traded changes without more information. O Both price and quantity traded definitely fall/decrease. O Quantity traded increases, but we cannot be certain about how price changes without more information.If the price elasticity of demand for a good is 2.0, then a 15 percent increase in price would result in a: Select one alternative: 0 30 percent increase in the quantity demanded. O 30 percent decrease in the quantity demanded. O 7.5 percent decrease in the quantity demanded. O 40 percent decrease in the quantity demanded