Sam Has Quasilinear Preferences and His Demand Function for X

question 4

Multiple Choice

Sam has quasilinear preferences and his demand function for x is . The price of x is initially $15 per unit and increases to $24 per unit. Sam's change in consumer's surplus is closest to

• A) -168.
• B) -76.
• C) -27.
• D)75
• E) Sam won't consume x at either of the prices.

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Definitions:

Consumer Education

The process by which the average person learns to make informed decisions about goods and services, including healthcare.

Good Health

A state of complete physical, mental, and social well-being, not merely the absence of disease.

Healthcare-Related Occupations

Jobs that are involved in the provision of health services to individuals, ranging from medical practice to administration and support.

Consumer Education

Programs or initiatives designed to inform consumers about products, services, and their rights and responsibilities in the marketplace.