Refer to the Graph Shown

question 50

Multiple Choice

Refer to the graph shown. Total surplus is maximized when:

• A)the market is in equilibrium at price P₁ and quantity Q₁.
• B)producers are able to charge a price above P₁.
• C)consumers are able to pay a price below P₁.
• D)excess demand is maximized.

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Definitions:

Second World War

A global conflict that lasted from 1939 to 1945, involving most of the world's nations, including all of the great powers, eventually forming two opposing military alliances: the Allies and the Axis.

Double V Campaign

A World War II-era movement by African Americans advocating for victory over fascism abroad and racial discrimination at home in the United States.

Discrimination

The unjust or prejudicial treatment of different categories of people, especially based on race, age, sex, or disability.

Executive Order 8802

Executive Order 8802 was issued by President Franklin D. Roosevelt in 1941 to prohibit racial discrimination in the national defense industry.