Suppose that instead of a tax, government imposes a subsidy of $4. What is the consumer surplus?

Suppose that instead of a price floor, there is a price ceiling equal to $6. Consumer surplus equals

You are the Independent System Operator (ISO) in an electricity market. You have received the bid information in the table below for a double auction. Each buyer’s bid is an offer to buy one unit of electricity. Each seller’s bid is an offer to sell one unit of electricity.

What is the total surplus from this subsidy?

If the price elasticity of a good is 1.5, then a 3% decrease in the price results in a ___ percent increase in the quantity demanded

Consider the the market depicted below. Suppose the Government imposes a subsidy of $4 per unit in this market. 

A new kind of consumption good, the “smidget” is invented in Econland. Suppose the impact of the invention on the widget market is that the price Pwidget increases while the quantity Qwidget remains unchanged. A possible explanation for why this happened is that widgets and smidgets are ____ and the supply curve for widgets is ___

The change in total surplus from the $4 tax is

What quantity clears the market?

When a client with increased thoracic kyphosis attempts to keep their eyes straight ahead at eye evel, this results in