Table 7-3 The Only Four Consumers in a Market Have the Following

question 129

Multiple Choice

Table 7-3
The only four consumers in a market have the following willingness to pay for a good:
-Refer to Table 7-3. If the price is $20, then consumer surplus in the market is

• A)$20, and Wilbur and Ming-la purchase the good.
• B)$45, and Carlos and Quilana purchase the good.
• C)$45, and Quilana, Wilbur, and Ming-la purchase the good.
• D)$55, and Carlos, Wilbur, and Ming-la purchase the good.

---

Definitions:

Convergent Plate Boundary

A region where two tectonic plates move towards each other, often causing earthquakes and forming mountains.

Oceanic Trench

A deep, narrow depression in the ocean floor, usually occurring at subduction zones where one tectonic plate is being forced under another.

Island Chain

A series of islands formed close to each other, often as a result of volcanic activity.

Mid-Ocean Ridge

An underwater mountain range formed by plate tectonics, where new oceanic crust is created.