It's really only about a few questions I'm stuck on but I figured it might be worth while seeing how I did with them all.

Question 1 Consider a market with the following supply (Qs) and demand (Qd) curves: Qd= 200-2p Qs=25 At the market equilibrium, what is the value of consumer surplus? Answer0156.25 625 3750 Infinite Question 2 Consider a market with the following supply (Qs) and demand (Qd) curves: Qd= 12-0.2p Qs=p At the market equilibrium, what is the value of total surplus? Answer10 50 100 200 300 Question 3 Consider a market with the following supply (Qs) and demand (Qd) curves: Qd= 200-2p Qs=25 Suppose the government imposes a tax of 15 dollars for each unit sold on buyers. For each unit sold, what is the amount received and kept by producers in the post tax equilibrium? Answer170 150 145 25 None of the above Question 4 Consider a market with the following supply (Qs) and demand (Qd) curves: Qd= 200-2p Qs=25 Suppose the government imposes on the buyer a tax of 15 dollars for each unit sold. What is the total tax revenue raised and deadweight loss following the imposition of the tax? AnswerRevenue = 15, DWL= 0 Revenue = 15, DWL= 375 Revenue = 375, DWL = 0 Revenue =375, DWL = 375 None of the above Question 5 Assume that demand is perfectly elastic and the supply curve is upward sloping. The amount received and kept by sellers after a specific tax is imposed on buyers: Answer Is greater than prior to the tax Is less than prior to the tax. Is unchanged compared with the situation prior to the tax. Depends on the own price elasticity of supply. Both b and d are correct. Question 6 Consider the valuations placed on a piece of art by the following five buyers: If a second price auction is held and each bidder follows an optimal bidding strategy: AnswerCatherine wins and receives positive surplus Catherine wins and receives zero surplus Bob wins and receives a positive surplus Bob wins and receives zero surplus. None of the above. Question 7 Assume that supply is perfectly elastic and demand is downward sloping. If a specific tax is imposed on buyers then following the imposition of...