It Is Known That the Quantity Demanded of a Certain

question 12

Multiple Choice

It is known that the quantity demanded of a certain make of portable hair dryer is x hundred units/week and the corresponding wholesale unit price is dollars.Determine the consumers' surplus if the wholesale market price is set at $20/unit.Round your answer to the nearest dollar.

• A)$5,093
• B)$5,217
• C)$4,975
• D)$4,661

Understand the structure and components of effective negative messages.

Identify the proper sequence for delivering negative messages to superiors, subordinates, and peers.

Recognize the importance of planning and strategizing before composing a negative message.

Understand how to prevent psychological reactance in negative communication.

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Definitions:

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded, often considered the market-clearing price.

Equilibrium Quantity

The quantity of goods supplied is equal to the quantity demanded at the market equilibrium price.

Normal Good

A good for which demand increases when consumer income rises, and falls when consumer income decreases, all other factors being constant.

Demand Curve

A graphical representation that shows the relationship between the price of a good and the quantity demanded by consumers.