In the Accompanying Figure, the Color Next to Box 2

question 5

Multiple Choice

In the accompanying figure, the color next to Box 2 indicates the _____. ​ ​

• A)random access memory control signal
• B)read-only memory program signal
• C)active or open database element
• D)deleted or replaced database element

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Definitions:

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive due to higher market price.

Binding Price Ceiling

A government-imposed limit on the price of a product or service that is set below the market equilibrium, leading to shortages and a decrease in supply.

Producer Surplus

The difference between the amount that producers are willing and able to sell a good for and the actual amount they receive due to market price.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given time period.