Tackle the Test: Free-Response Questions

1. Question

   Refer to the graph provided.

   

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   Rubric for FRQ 1 (6 points)

   1 point: $4,000

   1 point: $3,000

   1 point: Consumer surplus will increase.

   1 point: An increase in supply lowers the equilibrium price, which causes consumer surplus to increase.

   1 point: Producer surplus will decrease.

   1 point: A decrease in demand decreases the equilibrium price, which causes producer surplus to decrease.

2. Question

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