According to the Graph Shown,if the Market Is in Equilibrium,consumer

question 3

Multiple Choice

According to the graph shown,if the market is in equilibrium,consumer surplus is:

• A) $30.
• B) $20.
• C) $50.
• D) $60.

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Definitions:

Fixed Ordering Costs

Fixed ordering costs are the expenses that do not change with the quantity of order and typically include things like delivery charges and order processing fees.

Inventory Value

The total cost or market value of all the goods and materials held by a company.

Accounts Receivable Balance

The total amount of money owed to a company by its customers for goods or services provided on credit.

Credit Sales

Sales made on credit, allowing the buyer to pay at a later date.