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C. $55,000<br />
D.<br />
$100,000<br />
Question 4 of 200.0/ 5.0 Points<br />
If the government sets a maximum price for gasoline above the equilibrium price, __________ .<br />
A. quantity demanded of gasoline will be equal to quantity supplied of<br />
gasoline<br />
B. there will be excess demand for gasoline<br />
C. there will be excess supply of gasoline<br />
D. demand for gasoline will be less than supply of gasoline<br />
Question 5 of 205.0/ 5.0 Points<br />
Assume that Crystal's demand for handbags remains constant, but the price of handbags<br />
increases. Crystal's consumer surplus __________ .<br />
A. decreases<br />
B. increases<br />
C. remains constant<br />
D. may increase or decrease depending on the amount of the price<br />
decrease<br />
Question 6 of 205.0/ 5.0 Points<br />
A ban on imported avocados would result in __________ .<br />
A. an increase in total surplus because domestic production will increase<br />
B. no change in total surplus because the reduction in consumer surplus will offset the increase<br />
in producer surplus
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