According to the Graph Shown, If the Market Goes from Equilibrium

question 98

Multiple Choice

According to the graph shown, if the market goes from equilibrium to having its price set at $4:

• A)deadweight loss will be $90.
• B)consumer surplus will be $160.
• C)deadweight loss will be $60.
• D)consumer surplus will rise by $30.

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Definitions:

Cultural Relativism

The concept that one's cultural background should be the lens through which their behaviors and beliefs are comprehended by others.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a dismissive view of other cultures.

Nutrition

The study and practice of eating and utilizing foods, focusing on how substances in food provide energy or are converted into body tissues and provide health maintenance.

Learned

Acquired or developed through experience or education; referring to knowledge or skills not innate but gained through teaching or practice.