The Diagram Below Shows Supply, Demand, and Quantity Exchanged of Monday

question 72

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 on this market. The total economic surplus is now _ , which is than the total economic surplus generated at the allocatively efficient level of output.

• A) $187.50; $62.50 less
• B) $125; $250 less
• C) $62.50; $125 less
• D) $125; $125 less
• E) $187.50; $187.50 less

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Definitions:

Odd-eccentric

This term relates to behaviors or personality traits that are unusual or deviate significantly from cultural norms, often associated with certain personality disorders.

Anxious-fearful

A personality disposition characterized by high levels of anxiety and fear.

Agreeable-extraverted

A personality description pertaining to individuals who are both cooperative, friendly (agreeable) and outgoing, energetic (extraverted).

Personality Disorders

Mental health conditions characterized by unhealthy and rigid patterns of thinking, functioning, and behaving that deviate from cultural expectations and cause distress or impairment.