Assume the Market Depicted in the Graph Is in Equilibrium

question 110

Multiple Choice

Assume the market depicted in the graph is in equilibrium. What is total surplus?

• A) $30
• B) $20
• C) $50
• D) $60

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Definitions:

Peripheral Cue

Peripheral cue pertains to a method of persuasion that involves non-central elements of a message or situation, such as the attractiveness of a speaker, which can influence attitudes without deep cognitive processing.

Autokinetic Effect

A visual phenomenon where a stationary, small point of light in a dark room appears to move due to involuntary eye movements.

Elaboration Likelihood Model

A theory in social psychology that proposes two primary pathways of persuasion: a central route and a peripheral route.

Heuristic/Systematic Model

Theory that posits two routes to persuasion, via either conscious or automatic processing.