Figure 9-9 -Refer to Figure 9-9.The Change in Total Surplus in This

question 144

Multiple Choice

Figure 9-9
-Refer to Figure 9-9.The change in total surplus in this market because of trade is

• A)D,and this area represents a loss of total surplus because of trade.
• B)D,and this area represents a gain in total surplus because of trade.
• C)B + D,and this area represents a loss of total surplus because of trade.
• D)B + D,and this area represents a gain in total surplus because of trade.

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Definitions:

Apartment Building

A multi-unit residential building where each unit is occupied by different tenants for dwelling purposes.

Maintenance

The act of keeping property, equipment, or systems in working order by performing routine checks and repairs.

Net Income

The residual income of a company or individual after all expenses, taxes, and deductions have been subtracted from total revenue.

IRS Method

Techniques and guidelines set by the Internal Revenue Service for calculating and filing taxes.