Figure 7-24 -Refer to Figure 7-24.If 4 Units of the Good Are

question 38

Multiple Choice

Figure 7-24
-Refer to Figure 7-24.If 4 units of the good are produced and sold,then

• A)producer surplus is greater than consumer surplus.
• B)consumer surplus is $16.
• C)total surplus is minimized.
• D)total surplus is not maximized.

---

Definitions:

Basic Human Needs

Basic human needs represent the fundamental aspects necessary for individuals to survive and thrive, including physiological needs, safety, love/belonging, esteem, and self-actualization.

Customer Service

The support and guidance offered by a business to individuals who purchase or utilize its goods or services.

Going The Extra Mile

When a company gives customers small extra products or services as a way of showing appreciation for their business.

Word "Policy"

A set of guidelines or principles that govern decisions and actions within an organization.