Use the Following to Answer Questions 29-31

question 3

Multiple Choice

Use the following to answer questions 29-31:
Figure 3.10
-(Figure 3.10) If the government mandates a price floor of $750, the area of consumer surplus:

• A) increases from A to A + B + C.
• B) decreases from A + B + C to A.
• C) increases from A to B + C.
• D) decreases from B + C to A.

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Definitions:

Goods

Tangible products that are produced, bought, or sold, thereby contributing to an economy's exchange of value.

Services

Activities or benefits provided by one party to another which are intangible and do not result in ownership.

Employment Patterns

The trends or general tendencies in how people are employed, including permanency, sectors of employment, work hours, and conditions.

Charles Handy

A renowned Irish author and philosopher specializing in organizational behavior and management.