Micro Economics MCQ (GK Set-1) with Answers

Micro Economics MCQ (GK Set-1) with Answers

181) Refer to Exhibit 4. If there is no tax placed on the product in this market, consumer surplus is the area

Answer is:

A + B + E

182) Refer to Exhibit 4. If there is no tax placed on the product in this market, producer surplus is the area

Answer is:

C + D + F

183) Refer to Exhibit 4. If a tax is placed on the product in this market, consumer surplus is the area

Answer is:

A

184) Refer to Exhibit 4. If a tax is placed on the product in this market, producer surplus is the area

Answer is:

D

185) Refer to Exhibit 4. If a tax is placed on the product in this market, tax revenue paid by the buyers is the area

Answer is:

B

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