Table 5.2 -Refer to Table 5.2.The Table Above Lists the Highest Prices

question 18

Multiple Choice

Table 5.2
-Refer to Table 5.2.The table above lists the highest prices five consumers are willing to pay for a theatre 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:

Individualism

A principle valuing the independence and self-reliance of a person, often in contrast to collectivist or communal approaches.

Moral Intuitions

Immediate, gut-level judgments regarding the rightness or wrongness of an action, without reliance on explicit reasoning.

Simple Equality

The concept that two quantities are the same in value or amount, often represented mathematically as an equation.

Preconventional Morality

The first level of Kohlberg's theory of moral development, where moral reasoning is based primarily on consequences and personal benefits.