Refer to the Graph Shown

question 87

Multiple Choice

Refer to the graph shown. Assume that the market is initially in equilibrium at a price of $6 and a quantity of 40 units. In equilibrium, consumer surplus is equal to:

• A) 40.
• B) 80.
• C) 120.
• D) 160.

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Definitions:

Jury Deliberations

The process by which a jury discusses in private the evidence presented in court to reach a verdict.

Testimony

Oral or written statements given by a witness under oath, intended to provide evidence in a legal proceeding.

Directed Verdict

A ruling by a judge in a jury trial, taking the decision out of the jury’s hands because one party has not provided sufficient evidence to prove their case.

Motion

A formal request made to a court for an order or ruling on a particular point before, during, or after a trial.