Use the Following to Answer Question

question 189

Multiple Choice

Use the following to answer question:
-(Figure: Consumer Surplus III) In the figure Consumer Surplus III,when the price rises from $30 to $35,consumer surplus _____ for a total consumer surplus of _____.

• A)decreases by $15;$34
• B)increases by $15;$64
• C)increases by $25;$74
• D)decreases by $5;$44

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Definitions:

Principal

In financial terms, it refers to the original sum of money borrowed in a loan, or the initial amount of money invested, excluding any interest or profits. In legal terms, it can also refer to a person who grants authority to an agent to act on their behalf.

Salesperson

An individual who sells goods or services directly to customers for a company.

Duress

Compulsion, force, or pressure to perform an act against one's will.

Wrongful Act

Any action that infringes on the rights of another or is illegal, leading to potential legal liability.