Use the Following to Answer Question

question 165

Multiple Choice

Use the following to answer question:
-(Figure: Consumer Surplus III) In the figure Consumer Surplus III,when the price falls from $30 to $25,consumer surplus _____ for a total consumer surplus of _____.

• A)increases by $25;$74
• B)decreases by $15;$34
• C)increases by $15;$64
• D)increases by $5;$54

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Definitions:

Normal Curve

A bell-shaped curve that represents the distribution of values, with most occurring around a central region.

T Test

A statistical test for assessing whether the mean scores for two groups are significantly different.

Nonparametric Statistics

Statistics used with data that cannot be assumed to have a normal distribution.

T Test

A statistical test used to compare the means of two groups and determine if they are significantly different from each other.