Table 7-2
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​ -Refer to Table 7-2

question 108

Multiple Choice

Table 7-2
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$$\begin{array} { | c | c | } \hline \text { Buyer } & \begin{array} { c } \text { Willingness to Pay } \\\text { (Dollars) }\end{array} \\\hline \text { Carlos } & 20 \\\hline \text { Keira } & 24 \\\hline \text { Ava } & 28 \\\hline \text { Biyu } & 36 \\\hline\end{array}$$
-Refer to Table 7-2. If the price is $22, then consumer surplus in the market is

• A)$44, and Ava and Biyu purchase the good.
• B)$72, and Carlos and Keira purchase the good.
• C)$22, and Keira, Ava, and Biyu purchase the good.
• D)$48, and Carlos, Keira, Ava, and Biyu purchase the good.

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Definitions:

Capital Goods

Long-term assets that are used in the production of other goods and services, such as buildings, machinery, and equipment, which are not consumed in the production process.

Borrows

refers to the act of obtaining money, goods, or services in exchange for a promise of future repayment.

Financial System

A network of institutions, markets, instruments, and mechanisms that facilitate the exchange of funds and the allocation of resources in an economy.

Certificate Of Indebtedness

A government or corporate bond that acknowledges a debt and the obligation to repay it with interest by a specified date.