Figure 21-1 -In Figure 21-1, a Reform in the Distribution System That

question 23

Multiple Choice

Figure 21-1
-In Figure 21-1, a reform in the distribution system that achieves the same distribution with less damage to work incentives is represented by a move from which points?

• A)A to B
• B)C to G
• C)C to F
• D)B to C

Recognize how economic events like sales or price changes can affect both existing and potential consumers differently.

Understand the concept of consumer surplus and how changes in market conditions affect it.

Recognize the effects of price floors and price ceilings on consumer surplus.

Interpret graphical representations of changes in consumer surplus due to price changes.

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Definitions:

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Printed Report

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Background

Information or circumstances that provide a setting for an event, statement, or idea, and in terms of which it can be fully understood.

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