Table 4-1 -Refer to Table 4-1.The Table Above Lists the Highest Prices

question 168

Multiple Choice

Table 4-1

-Refer to Table 4-1.The table above lists the highest prices three consumers, Tom, Dick, and Harriet, are willing to pay for a short-sleeved polo shirt.If the price of one of the shirts is $28 dollars,

• A)Tom will buy two shirts, Dick will buy one shirt and Harriet will buy no shirts.
• B)Tom will receive $12 of consumer surplus from buying one shirt.
• C)Tom and Dick receive a total of $70 of consumer surplus from buying one shirt each. Harriet will buy no shirts.
• D)Harriet will receive $25 of consumer surplus since she will buy no shirts.

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Definitions:

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Devices that convert light energy directly into electrical energy through the photovoltaic effect, commonly used in solar panels.

Natural Gas Furnace

A heating system that burns natural gas to produce heat for space heating in residential or commercial buildings.

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A design approach that utilizes the sun's energy for the heating and cooling of living spaces by exposure to the sun.

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Underground pipes used to tap into the thermal stability of the earth for heating, cooling, and ventilating buildings, utilizing passive geothermal energy.