The Following Figure Shows the Market Demand Curve for Calculators

question 55

Multiple Choice

The following figure shows the market demand curve for calculators.

-Refer to the figure above.What is the market-wide consumer surplus when the market price of calculators is $6 per unit?

• A) $20
• B) $35
• C) $50
• D) $70

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Definitions:

Merchandise Inventory

The goods a company holds for the purpose of resale to customers.

Customer Refunds Payable

A liability account for estimated refunds and allowances that will be paid or granted customers in the future.

Merchandise Returns

Goods returned by the buyer to the seller, often due to defects, wrong size, or dissatisfaction.

Purchase Discounts

A deduction from the original purchase price allowed by the seller to the buyer, typically for early payment or bulk purchasing.