-The Above Figures Show the Market for Oranges

question 302

Multiple Choice

-The above figures show the market for oranges. Which figure(s) shows the effect of new successful advertising campaigns to eat more oranges?

• A) Figure A
• B) Figure B
• C) Figure D
• D) Figures A and D

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Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that suppliers are willing to offer for sale.

Consumer Surplus

The imbalance between the funds consumers are willing to dedicate to a good or service and the funds they actually dedicate.

Consumer Surplus

The discrepancy in the total spend consumers are willing to shoulder for a product or service as opposed to what they actually disburse.

Market Price

The present value at which a service or asset is available for purchase or sale in a market.