_________ Was Chosen as the Replacement for R134a in New

question 36

Multiple Choice

_________ was chosen as the replacement for R134a in new model light-duty vehicles.

• A) R-12
• B) R-1234yf
• C) R-134a
• D) R-402

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Definitions:

Consumer Surplus

The gap between the price consumers are prepared to pay for a product or service and the actual amount they end up spending.

Reservation Price

The maximum price a consumer is willing to pay for a good or service, beyond which they will choose not to purchase it.

Cost Function

A mathematical formula or equation that describes how production costs change with alterations in the volume of output.

U-shaped Cost Curve

A graphical representation showing that as output increases, average costs initially decrease, reach a minimum, and then increase.