Use the Following to Answer Question

question 100

Multiple Choice

Use the following to answer question:
-(Table: Pumpkin Market) There are two consumers,Andy and Ben,in the market for pumpkins.Their willingness to pay for each pumpkin is shown in the table Pumpkin Market.There are two producers of pumpkins,Cindy and Diane,and their costs are also shown.The equilibrium price for pumpkins is $8 and the equilibrium quantity is 5.At the equilibrium price and quantity,total consumer surplus is:

• A)$10.
• B)$8.
• C)$6.
• D)$0.

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Definitions:

Discretionary Policy

Refers to economic strategies and actions, such as changes in tax rates or government spending, opted by the government to manage the economy.

Passive Approach

An investment strategy that involves minimal buying and selling actions, typically focused on long-term investment in index funds and other diversified holdings.

Expansionary Monetary Policy

A policy by central banks to increase the money supply and decrease interest rates to stimulate economic growth.

Real Output

The measure of goods and services produced by an economy, adjusted for inflation or deflation, showing true growth or contraction.