Figure: Change in the Total Surplus

question 160

Essay

Figure: Change in the Total Surplus
(Figure: Change in Total Surplus) Look at the figure Change in the Total Surplus.Which of the following areas represent the change in total surplus when the price falls from P₁ to P₂?
A.A, B, and C
B.B and C
C.B, C, D, and E
D.C and E

---

Definitions:

Kubler-Ross's Typology

Denotes the five stages of grief as proposed by Elisabeth Kübler-Ross, encompassing denial, anger, bargaining, depression, and acceptance.

Denial

A psychological defense mechanism where a person refuses to accept reality or facts, thereby avoiding a potentially distressful situation.

Kubler-Ross's Typology

A model describing five stages of emotional response to grief and loss, namely denial, anger, bargaining, depression, and acceptance.

Refusing

involves the act of saying no or denying a request, offer, or demand.