Refer to the Following Graph

question 12

Multiple Choice

Refer to the following graph:

-Suppose price rises from $90 to $110. Total revenue moves in the ________ (same, opposite) direction as the dominant effect. In this case, total revenue ____________ (increases, decreases, stays the same) because the quantity effect is _________ (larger than, smaller than, the same as) the price effect.

• A) same; increases; larger than
• B) same; decreases; smaller than
• C) same; decreases; larger than
• D) opposite; increases; larger than
• E) opposite; decreases; smaller than

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Definitions:

Cultural Competency

The ability to understand, appreciate, and interact effectively with people of different cultures and socio-economic backgrounds.

Social Equity

The fair and just distribution of resources and opportunities among all members of a society, aiming to reduce disparities and promote equality.

Social Justice

Concept that challenges the social structures, processes, and practices associated with inequalities that lead to oppression.

Equity

Principle based on fairness, justice, access, opportunity, and advancement for everyone, while recognizing historically underserved and unrepresented populations, identifying conditions needed to provide effective opportunities for all groups, and eliminating barriers to their full participation.