Table 4-2 -Refer to Table 4-2.The Table Above Lists the Highest Prices

question 194

Multiple Choice

Table 4-2

-Refer to Table 4-2.The table above lists the highest prices five consumers are willing to pay for a theater ticket.If the price of one ticket rises from $10 to $19,

• A)only three tickets will be sold.
• B)consumer surplus decreases from $31 to $6.
• C)consumer surplus increases from $44 to $71.
• D)no one will buy a ticket.

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Definitions:

Proximate Cause

The primary cause that in a natural and continuous sequence, unbroken by any efficient intervening cause, produces an event and without which the event would not have occurred.

Cause in Fact

A legal principle that establishes an event as the direct cause of an injury, required for proving negligence.

Res Ipsa Loquitur

A doctrine in tort law that infers negligence from the very nature of an accident or injury, in the absence of direct evidence on how any defendant behaved.

Causation

The relationship between cause and effect, where one event (the cause) directly leads to the occurrence of another event (the effect).