-The Above Figure Shows the Market Demand Curve for Mobile

question 36

Multiple Choice

-The above figure shows the market demand curve for mobile telecommunications (time spent on a mobile phone) . The current price is $0.35 per minute. If the price were to increase by ten cents per minute, consumer surplus would

• A)fall to $820.
• B)fall by $84.
• C)fall by $58.
• D)fall to $369.

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Definitions:

Familiarity Effect

A psychological phenomenon where repeated exposure to a stimulus results in an increased preference for that stimulus over time, often influencing decision making and perceptions.

Social Psychology

explores how individuals are influenced by the real or imagined presence of others, including behaviors, thoughts, and feelings.

Mutual Eye Contact

The shared act of making eye contact between two or more individuals, which can communicate various messages and emotions, such as interest, aggression, or affection.

Physical Attractiveness Stereotype

The presumption that physically attractive individuals possess other desirable personal qualities, leading to preferential treatment or assumptions about their character.