Surplus!

Quiz
•
Social Studies
•
11th - 12th Grade
•
Medium
Casey Douglas
Used 410+ times
FREE Resource
13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
2.
MULTIPLE CHOICE QUESTION
30 sec • 12 pts
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
You are the manager of Fun World, a small amusement park that only charges per ride. The diagram shows the demand curve for a typical customer. At $5 per ride, how much consumer surplus does each customer get? (Hint = you need to calculate the area of a triangle)
$5
$15
$25
$50
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Now suppose you consider lowering the price per ride to $0. How much consumer surplus would each individual customer get? (Hint = you need to calculate the area of a triangle)
$50
$75
$100
$200
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Now that you have lowered the price per ride to $0, what is the maximum admission fee Fun World could charge to the typical customer? (Hint = consider the amount of consumer surplus!)
$50
$75
$100
$200
6.
MULTIPLE CHOICE QUESTION
45 sec • 12 pts
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
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