An Increase in Energy Prices Would Encourage Shippers to Rely

question 141

True/False

An increase in energy prices would encourage shippers to rely more on rail transportation.

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Definitions:

Consumer Surplus

The gap between what consumers are prepared to spend on a good or service and what they end up paying.

Price

The cost at which goods or services are offered to consumers.

Surplus Amount

The excess of supply over demand in a market, resulting in downward pressure on prices.

Consumer Surplus

The discrepancy between what consumers are ready and capable of paying for a product or service and the actual amount they end up paying.