(Figure: Determining Surplus 5) According to the Graph, at Equilibrium

question 186

Multiple Choice

(Figure: Determining Surplus 5) According to the graph, at equilibrium total surplus is:

• A) $600.
• B) $200.
• C) $1,200.
• D) 80 units.

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Definitions:

Monthly Payments

payments made once a month toward a loan or other financial obligation.

Loan

A sum of money that is borrowed and expected to be paid back with interest.

Compounded Semi-annually

Interest that is calculated and added to the principal twice a year.

Semi-annual Payments

Payments made twice a year as a part of a financial agreement or loan.