ECO 1 Lecture 13: ECO 001 10-22

AI 16. If the price of X is set at $0.10 per unit, the quantity of the good purchased by this consumer each month will be: B) 2 C)3 D) 4 E) 6 F) 8 G) 10 H) 12 I) 16.5 J) 23.5 K) 63 L) 64 M) 128 N) 129 0) 150 P) 156 Q) 157.5 R) 159.5 S) 160 T) 255 U) 256 V) 256.5 W) 257.5 X) 260 Y)0 Z) none of the above

24. Again, the government places a $30 per unit tax on the buyers of widgets. At the new equilibrium, the price paid by buyers (including the tax paid) will be: A) $120 B) $123 C) $126 D) $129 E) $132 F) $135 G) $138 H) $141 1) $144 J) $147 K) $150 L) $153 M) $156 N) $159 O) $162 P) $165 Q) $168 R) $171 S) $174 T) $177 U) $180 V) $183 W) $240 X) $1500 Y) $3000 Z) none of the above

14. If the price of X is set at $24.00 per unit, the consumer surplus gained by this consumer each month through purchasing X will be: A) $0 B) $22 C) $28 D) $42 E) $49 F) $52 G) $56 H) $72 1) $90 J) $98 K) $100 L) $121 M) $144 N) $168 0) $196 P) $200 Q) $222 R) $242 S) $260 T) $267 U) $300 V) $338 W) none of the above