Price Is $50 and Quantity Demanded Is 2,000 Units at Point

question 40

Multiple Choice

Price is $50 and quantity demanded is 2,000 units at point A on a linear demand curve.The linear supply curve intersects the demand curve at point B,which is at a price of $30 and 3,000 units.Which of the following is true?

• A)Moving from point A to point B causes consumer surplus to rise by $50,000.
• B)Moving from point A to point B causes consumer surplus to rise by $10,000.
• C)Moving from point B to point A causes consumer surplus to rise by $10,000.
• D)Moving from point B to point A causes consumer surplus to rise by $50,000.

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Definitions:

Argument

A discussion involving differing points of view or a formal debate, often centered on a particular topic or issue.

Gall Bladder

A small, pear-shaped organ located under the liver which stores and concentrates bile.

Pancreas

Organ that secretes digestive enzymes into the small intestine, and insulin and glucagon into the blood.

Small Intestine

Longest portion of the digestive tract, and the site of most digestion and absorption.