Table 7-11 -Refer to Table 7-11.Both the Demand Curve and the Supply

question 329

Multiple Choice

Table 7-11

-Refer to Table 7-11.Both the demand curve and the supply curve are straight lines.If 6 units are bought and sold,then total surplus is

• A) $18 lower than it would be if the equilibrium number of units were bought and sold.
• B) $22 lower than it would be if the equilibrium number of units were bought and sold.
• C) $26 lower than it would be if the equilibrium number of units were bought and sold.
• D) $6 higher than it would be if the equilibrium number of units were bought and sold.

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Definitions:

Water

A chemical compound, H2O, essential for all known forms of life, characterized by its liquid state at room temperature and its ability to dissolve many substances.

Helium

Helium is a chemical element with symbol He and atomic number 2, known as the second lightest and second most abundant element in the observable universe, primarily used in cryogenics and as an inert gas shield in arc welding.

Lewis Structures

Diagrams that represent the valence electrons of atoms within a molecule, showing how they are bonded together.

Double Bond

A chemical bond in which two pairs of electrons are shared between two atoms.