11) The figure above shows the market for digital cameras. If new technology lowers the cost of producing digital cameras, the efficient quantity of digital cameras will be ________ and compared to the original equilibrium, the consumer surplus will ________. A) less than 300; increase B) less than 300; decrease C) greater than 300; increase D) greater than 300; decrease 12) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed on sellers of digital cameras, how many cameras are sold? A) 150 thousand B) 200 thousand C) 250 thousand D) 300 thousand 13) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed on sellers of digital cameras, buyers will pay a ________ fraction of the tax than sellers will pay because the demand is ________ elastic than the supply is. A) smaller; more B) smaller; less C) greater; more D) greater; less 14) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the equilibrium quantity of digital cameras is ________ thousand cameras and the efficient quantity of digital cameras to produce is ________ thousand cameras. A) 300; 200 B) 200; 300 C) 200; 200 D) 300; 300 15) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, the marginal cost of the last digital camera produced is ________ and the marginal benefit that consumers receive from it is ________. A) $330; $300 B) $310; $280 C) $280; $310 D) $300; $300 16) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, consumer surplus will A) not change. B) decrease by $1,500. C) increase by $1,000. D) decrease by $2,500. 17) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, and at the same time new technology lowers the marginal cost of producing a digital camera by $30 at each level of output, the equilibrium quantity of digital cameras is ________ thousand cameras and the efficient quantity of digital cameras to produce is ________ thousand cameras. A) 300; 400 B) 400; 300 C) 300; 200 D) 300; 300 18) The figure above shows the market for digital cameras. If a tax on digital cameras of $30 per camera is imposed, and at the same time new technology lowers the marginal cost of producing a digital camera by $30 at each level of output, the marginal cost of the last camera produced is ________ and the marginal benefit that consumers receive from it is ________. A) $300; $300 B) $270; $300 C) $290; $320 D) $290; $290 19) The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $900, the quantity of apartment units rented is ________ , and the efficient quantity of apartment units to rent is ________. A) 400; 1,000 B) 400; 800 C) 800; 800 D) 800; 1,000 20) The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $900, the marginal benefit from renting an apartment unit is ________ and the quantity of apartments supplied is ________. A) $900; 1,000 B) $900; 400 C) $800; 400 D) $800; 800 21) The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $700, the quantity of apartment units rented is ________ , and the efficient quantity of apartment units to rent is ________. A) 1,200; 600 B) 600; 600 C) 600; 800 D) 800; 800 22) The figure above shows the demand for and supply of rental housing in Steppeville. If a rent ceiling is set at $700, the marginal benefit from renting an apartment unit is ________ and the quantity of apartment units supplied is ________. A) $700; 600 B) $850; 600 C) $800; 800 D) $700; 800 23) The figure above shows the demand for and supply of rental housing in Steppeville. A rent ceiling is set at $700. The rent ceiling creates a ________ and there ________ a deadweight loss. A) surplus of 1,200 apartments; is not B) surplus of 600 apartments; is C) shortage of 600 apartments; is D) shortage; 1,200 apartments; is not 24) The figure above shows the demand for and supply of rental housing in Steppeville. A rent ceiling is set at $700. Rental housing is a normal good and people’s incomes increase. As a result, the, A) gap between the efficient quantity of housing to rent and the actual quantity rented will increase. B) gap between the efficient quantity of housing to rent and the actual quantity rented will decrease. C) shortage of housing will decrease. D) quantity of housing supplied will increase. 25) ________ occurs when a foreign firm sells its exports at a lower price than its cost of production. A) A quota B) Dumping C) A tariff D) A nontariff barrier