Assume the Market in the Graph Shown with Demand D

question 75

Multiple Choice

Assume the market in the graph shown with demand D and supply S₁ is in equilibrium at a quantity of 5 units.Total surplus is:

• A) $5.
• B) $15.
• C) $12.50.
• D) $60.

---

Definitions:

Probabilities

An assessment of an event's probability, denoted by a figure that falls between 0 and 1.

Revenues

The aggregate income derived from the trade of goods or provision of services, constituting the core business of a corporation.

Simplified Version

An easier or less complex form of something, often used to aid understanding or analysis.

Minimum Probability

The lowest chance or likelihood of an event occurring, often used in statistical analysis and decision-making processes to evaluate risk.