You Are Standing on a Scale in an Elevator

question 44

Multiple Choice

You are standing on a scale in an elevator.Suddenly you notice your weight decreases.What do you conclude?

• A)The elevator is accelerating upwards.
• B)The elevator is moving at a constant velocity upwards.
• C)The elevator is accelerating downwards.
• D)The elevator is moving at a constant velocity downwards.
• E)Your diet is working.

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Definitions:

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Trade

The process of purchasing, vending, or trading products and services among individuals, corporations, or nations.

Trade

The exchange of goods, services, or both within and between countries.

Deadweight Loss

An economic inefficiency occurring when a market outcome does not maximize total surplus due to a distortion, like a tax or subsidy.