According to the Graph Shown,if the Market Goes from Equilibrium

question 107

Multiple Choice

According to the graph shown,if the market goes from equilibrium to having its price set at $10 then:

• A) area (B +
• C) gets transferred from consumer to producer.
• B) area (B +
• C) gets transferred from producer to consumer.
• C) area B gets transferred from consumer to producer.
• D) area B gets transferred from producer to consumer.

---

Definitions:

Severance Pay

Severance pay is compensation given to an employee who is dismissed from their job, often based on the length of employment and the terms of their employment contract.

Legal Action

The process of pursuing remedies or enforcement through the court system, including lawsuits or litigation.

Collective Agreement

A written contract negotiated between an employer and a union representing the employees, detailing workers' terms and conditions of employment.

Union Recognition

is the acknowledgment by an employer that a labor union represents its employees and has the authority to negotiate on their behalf.