Suppose That the Demand Curve for Brown Rice Is Given

question 52

Multiple Choice

Suppose that the demand curve for brown rice is given P= 50,000 - 3Q², and supply is P = -10,000 + 3Q². The consumer surplus at the equilibrium price is ____.

• A) $1,000,000
• B) $200,000
• C) $100,000
• D) $2,000,000

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Definitions:

Internal Consistency Validity

A measure of the reliability of a test or scale, indicating how well the items on the test measure the same construct or concept.

Content Validity

The extent to which a test measures all aspects of the concept or content it intends to measure.

Multiple-Forms Reliability

A type of reliability test where different forms of a test are administered to the same group of people, measuring the consistency of the results across the different forms.

Test-Retest Reliability

A measure of the consistency of a psychological test or assessment tool across multiple administrations.