The Diagram Below Shows Supply, Demand, and Quantity Exchanged of Monday

question 12

Multiple Choice

The diagram below shows supply, demand, and quantity exchanged of Monday matinee movie tickets. Assume it is a perfectly competitive market. FIGURE 12- 4
-Refer to Figure 12- 4. Suppose a disequilibrium price of $7.50 per movie ticket is imposed in this market. The consumer surplus becomes _ and the producer surplus becomes .

• A) $2.50; $7.50
• B) $62.50; $250
• C) $62.50; $125
• D) $0; $62.50
• E) $31.25; $156.25

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Definitions:

Vigilante

An individual who takes the law into their own hands, attempting to enforce justice according to their own understanding, often without legal authority.

Media Stereotypically

The often oversimplified and generalized portrayal of people or groups in media, based on biased assumptions.

Moral Panics

Social phenomena where public fear and overreaction are provoked by media coverage of a perceived threat to societal norms or values, often disproportionate to the actual danger presented.

Deviance

Behaviors or actions that violate societal norms or values.