The Diagram Below Shows Supply,demand,and Quantity Exchanged of Monday Matinee

question 109

Multiple Choice

The diagram below shows supply,demand,and quantity exchanged of Monday matinee movie tickets.Assume it is a perfectly competitive market. FIGURE 12-4
-Refer to Figure 12-4.Suppose a disequilibrium price of $7.50 per movie ticket is imposed in this market.The consumer surplus becomes ________ and the producer surplus becomes ________.

• A)$0; $62.50
• B)$2.50; $7.50
• C)$62.50; $125
• D)$62.50; $250
• E)$31.25; $156.25

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Definitions:

Money Laundering

The illegal process of making large amounts of money generated by criminal activity, such as drug trafficking or terrorist funding, appear to be earned legitimately.

Manuel Noriega

A Panamanian military officer and politician who was the de facto ruler of Panama from 1983 to 1989 before being removed from power by an American military intervention.

Drug Running

The illegal smuggling of controlled substances or narcotics across borders or through jurisdictions, often involving organized crime.

Allied Troops

Refers to the military forces of allied countries, typically in the context of the First and Second World Wars, who joined forces against common enemies.