Table 7-5 For Each of Three Potential Buyers of Oranges, the Table

question 35

Multiple Choice

Table 7-5
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Alex, Barb, and Carlos are the only three buyers of oranges, and only three oranges can be supplied per day.

-Refer to Table 7-5.If the market price of an orange increases from $0.60 to $1.05,then consumer surplus

• A) increases by $2.90.
• B) decreases by $2.25.
• C) decreases by $2.70.
• D) decreases by $3.85.

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Relating to society or its organization, highlighting aspects such as hierarchical structure, interactions, and collective behavior within a community.

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Shared ideas that are accepted as true by a particular group of people, shaping their values, norms, and behaviors.

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Talcott Parsons

An influential American sociologist known for his theories on social action, systems theory, and the role of values in social order.