-In the Above Figure,the Market Is at Its Equilibrium

question 316

Multiple Choice

-In the above figure,the market is at its equilibrium.Area B is equal to

• A) consumer surplus.
• B) total revenue.
• C) marginal benefit.
• D) producer surplus.
• E) total surplus.

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Definitions:

Day Care Center

A place where children from infancy through childhood are cared for outside of their home during the day, often including educational and social activities.

Reorganizational Stage

In Schaie’s theory, a stage of early old age, when responsibilities narrow as children grow up and retirement becomes an option. Flexibility in problem solving is needed to create a satisfying, meaningful environment for the rest of life, but the focus tends to narrow to a changed set of personal goals and needs.

Adult Adjustment

The process by which adults cope with and adapt to the changes and challenges in their lives.

Schaie's View

Schaie's View pertains to a theory of cognitive development that proposes that adults go through stages of cognitive maturation involving acquisition, achieving, responsible, executive, and reintegrative stages.