Solve the Problem. - the Bar Graph Above Shows the Political Party Affiliation

question 588

Multiple Choice

Solve the problem.
- The bar graph above shows the political party affiliation of 1,000 registered U.S. voters. What percentage of the 1,000 registered U.S. voters belonged to one of the traditional two parties (Democratic and Republican) ?

• A) 50%
• B) 75%
• C) 25%
• D) 35%
• E) 40%

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Definitions:

Consumer Surplus

The difference between the maximum price a consumer is willing to pay for a good or service and the actual market price they pay.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.

Marginal Cost

The rise in overall expenses associated with the production of an extra unit of a good or service.

Price Discrimination

A strategy for setting prices where the same or very similar products or services are offered at different prices by the same seller in various markets.