-The Above Figure Shows the Market Demand Curve for Telecommunication

question 141

Multiple Choice

-The above figure shows the market demand curve for telecommunication while driving one's car (time spent on the car phone) .The current price is $0.35 per minute.If the price were to increase by ten cents per minute,consumer surplus would

• A) fall to $820.
• B) fall by $84.
• C) fall by $58.
• D) fall to $369.

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Definitions:

Recognising

The process of recording an item in the financial statements when it meets the criteria set by accounting standards.

Sales

The total amount of goods or services sold over a specific period of time, generating revenue for a business.