On a Graph,consumer Surplus Is Represented by the Area

question 59

Multiple Choice

On a graph,consumer surplus is represented by the area

• A)between the demand and supply curves.
• B)below the demand curve and above price.
• C)below the price and above the supply curve.
• D)below the demand curve and to the right of equilibrium price.

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Definitions:

Residual Value

The estimated amount that an asset is expected to realize upon the end of its useful life, after deducting the cost of disposal.

Double-Declining-Balance

A method of accelerated depreciation which doubles the normal depreciation rate.

Depreciation Expense

It refers to the allocation of the cost of a tangible asset over its useful life.

Camera Equipment

Hardware used in capturing images, including cameras, lenses, tripods, and lighting setups.