__________ Lines Are Used on Drawings to Represent Edges That

question 4

Multiple Choice

__________ lines are used on drawings to represent edges that are hidden from normal view.

• A) Dashed
• B) Light solid
• C) Heavy solid
• D) Dot dash

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Definitions:

Consumer Surplus

The differential between the overall amount consumers are willing and financially prepared to spend on a good or service, and what they end up spending.

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, essentially the extra benefit to producers from selling at the market price.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unobtainable.

Producer Surplus

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