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Willingness to pay is the minimum amount a buyer will pay for a good, and it measures how much the buyer values the good.

Suppose that a baseball glove costs $100. Now suppose that the government imposes a $9 tax on baseball gloves. The new market price will be $109. 

Consider the following picture of a demand curve. Which area would represent the consumer surplus if price is P1? 

Total surplus is the area under the demand curve and above the supply curve.

Which of the following are other rationing mechanism that emerge when a binding price ceiling is imposed in a market? (Select all that apply)

Chad is willing to pay $4.00 to get his first cup of morning coffee. He buys a cup from a vendor selling coffee and gets $1.75 of consumer surplus. Chad paid ______ for the cup of coffee. 

Two point charges are on the x-axis.  Charge q1 = 5.00 uC is at the origin and q2 = -3.00 uC is at x = 0.350 m.  b)  Find the direction of the electric field at a distance of 0.450 m directly above q2.

Two point charges are on the x-axis.  Charge q1 = -4.00 uC is at the origin and q2 = 3.00 uC is at x = 0.500 m.  a)  Find the magnitude of the electric potential at a distance of 0.350 m directly above q2.

A 3.00 uC point charge is released from rest 0.450 m away from a 5.00 uC point charge.  If the 3.00 uC point charge has a mass of 0.002 kg,  what is its initial acceleration? Ignore gravity.

A proton having a speed of 3.0 × 10^6 m/s in a direction perpendicular to a uniform magnetic field moves in a circle of radius 0.20 m within the field.  What is the magnitude of the magnetic field? (e = 1.60 × 10^-19 C, mproton = 1.67 × 10^-27 kg)