Use the Following to Answer Question

question 15

Multiple Choice

Use the following to answer question:
-(Table: Quantity Supplied and Quantity Demanded) Using the table Quantity Supplied and Quantity Demanded, if this market is in equilibrium and the demand and supply curves are linear, then the value of consumer surplus is:

• A) $1,225.
• B) $2,450.
• C) $4,900.
• D) $1,500.

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Definitions:

Semiperipheral Countries

Nations in the world-system that are intermediate, neither fully core nor fully peripheral, often characterized by moderate economic development and industrialization.

Core Countries

Nations that dominate global trade and economics, characterized by high levels of industrialization and wealth.

Taiwan

An island in East Asia, known for its vibrant democracy, technological advancements, and complex relationship with China.

McDonaldization

Describes the process by which the principles of the fast-food industry, such as efficiency, calculability, predictability, and control, have come to dominate other sectors of society.