Question

v Question Completion Status: QUESTION 4 Graphically, a report indicating the health benefits from consuming 5 ounces of whole grains per day reduces the chances of cancer by 50 percent will cause the demand curve for whole grains to a. shift rightward e b. shift leftward O c. become flatter e d. become steeper QUESTION5 Consumer surplus is the difference between the e market price and the minimum price required to induce production e market price and the maximum willingness to pay of consumers e quantity demanded and the quantity supplied at the market price O full economic price and the minimum price required to induce production Click Save and Submit to save and submit. Click Save All Answers to save all ansuwers

Answer 1

4) Shift rightwards. This is because a positive news will encourage consumers to consume more wheat. So they demand more wheat at each price level.

5) 2nd option. Consumers benefit when what they are willing to pay is greater than what they end up paying. This is represented by the difference between maximum willingness to pay and market price paid.