If a Researcher Records a Particular Stimulus as Having a Decibel

question 293

Multiple Choice

If a researcher records a particular stimulus as having a decibel (db) level of 50, what can we predict about this sound?

• A)it will be loud enough for the average person to hear
• B)it will not be loud enough for the average person to hear
• C)it will be loud enough to cause the average person some degree of pain or discomfort
• D)it will be loud enough to cause hearing damage with prolonged exposure
• E)given the available information, we cannot predict any of these possible response options

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Definitions:

Consumer Surplus

The variance between the sum consumers are willing to shell out for a good or service and the sum they actually shell out.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to a balance in the market.

Producer Surplus

The discrepancy between the price at which producers are prepared to offer a good or service and the price they actually obtain.

Demand Shifts

Refers to the change in the quantity demanded of a good or service at any given price, caused by factors other than the price of the good itself.