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Please help with the following questions,

46)

In the graph above, suppose the government mandates that the price

of wheat rice can be no lower than $4 per bushel. Areas (C+G) in this

scenario would be referred to as

a net social welfare

1. a deadweight loss.
2. consumer surplus.
3. a producer surplus

e) marginal benefits.

47) In the graph above, suppose the government mandates that the price

of wheat rice can be no lower than $4 per bushel. What area (s) represent the producer surplus after the implementation of this policy?

a) Areas (B+C)

b) Areas F+G)

c) Areas (A+B+F)

d) Areas (B+F)

e) Area F

48) In the graph above, suppose the government mandates that the price

of wheat rice can be no lower than $4 per bushel. What areas represent the deadweight loss as a result of this policy:

1. Areas (D+E)
2. Areas (B+C)
3. Areas (C+G)
4. Areas (F+G)
5. Areas (A+B)

49) In the graph above, suppose the government mandates that the price of wheat rice can be no lower than $4 per bushel. What area (s) represent the consumer surplus after the implementation of this policy?

1. Area A
2. Areas (A+B)
3. Areas (A+B+C)
4. Areas (B+C)
5. Areas (A+B+F)

50) In the graph above, suppose the government mandates that the price

of wheat rice can be no lower than $4 per bushel. What areas) represent a transfer of welfare from consumers to producers as a result of this policy?

1. Area A
2. Area B
3. Areas (B+C)
4. Area C
5. Areas (A+B)

51)

Suppose that John is willing to pay a maximum of 5 dollars per cup of regular coffee at a coffee shop on campus. What is John's consume surplus from buying one cup of coffee if the actual price of coffee is 3 dollars per cup?

a) $5

b) $3

c) $2

d) $1

e) $0

52) Suppose Luis, Madeleine, and Emma are the only consumers in the entire coffee market, and that their maximum willingness to pay for a cup of coffee is $2, $4, and $6 respectively. Assume that the price of coffee is $2 per cup and that they each buy one cup of coffee. What is the market consumer surplus?

a. $7

b. $6

C. $5

d. $4

e. $2

53)

Suppose that the cost of producing the 600th cup of coffee to the local coffee shop is $2, and the price of coffee is $3.40 per cup. What is the producer surplus of selling the 600th cup of coffee?

a. $2.40

b. $1.40

c. $1

d. $0.40

e. $0

For Questions 46 - 50, refer to the graph below

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