Table 7-1 -Refer to Table 7-1.If Price of the Product Is $30,then

question 18

Multiple Choice

Table 7-1

-Refer to Table 7-1.If price of the product is $30,then the total consumer surplus is

• A) $-10.
• B) $-6.
• C) $20.
• D) $30.

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Definitions:

Par Common Stock

This is a classification of common stock that has a nominal value assigned in the corporate charter and is used in the accounting records.

Shares

Units of ownership in a company or financial asset.

Retained Earnings

The portion of a business's profits not distributed to shareholders, instead being reinvested in the business or used to pay off debt.

Net Income

The total amount of profit earned by a company after all expenses and taxes have been deducted from total revenue.