Price (dollars per ice cream cone) $3.50 3.00 2.50 0 A $6.50 B $5.50 1 C) $2.50 2 Figure 4-1 shows Kendra's demand curve for ice cream cones. D) $0.50 3 Refer to Figure 4-1. If the market price is $3.00, what is Kendra's consumer surplus? Demand Quantity (ice cream cones) ?

Price (dollars per ice cream cone) $3.50 3.00 2.50 0 A $6.50 B $5.50 1 C) $2.50 2 Figure 4-1 shows Kendra's demand curve for ice cream cones. D) $0.50 3 Refer to Figure 4-1. If the market price is $3.00, what is Kendra's consumer surplus? Demand Quantity (ice cream cones) ?

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter4: Prices: Free, Controlled, And Relative

Section: Chapter Questions

Problem 2WNG

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Question

Price
(dollars per
ice cream cone)
$3.50
3.00
2.50
0
A $6.50
B $5.50
1
C) $2.50
2
Figure 4-1 shows Kendra's demand curve for ice cream
cones.
D $0.50
3
Refer to Figure 4-1. If the market price is $3.00, what is
Kendra's consumer surplus?
Demand
Quantity
(ice cream cones)
Ⓡ

Refer to Table 4-5. If a minimum wage of $10.50 an hour is
mandated, what is the quantity of labor demanded?
A 400,000
B) 370,000
C 340,000
D) 60,000

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