Figure 7-18 -Refer to Figure 7-18.Assume Demand Increases and as a Result,equilibrium

question 158

Multiple Choice

Figure 7-18

-Refer to Figure 7-18.Assume demand increases and as a result,equilibrium price increases to $22 and equilibrium quantity increases to 110.The increase in producer surplus due to new producers entering the market would be

• A) $90.
• B) $210.
• C) $360.
• D) $480.

---

Definitions:

Latency Stage

A psychoanalytic term for a period in child development from about age five to puberty during which sexual urges are inactive.

Biological Drives

Innate impulses in living organisms that prompt certain behaviors essential for survival, such as hunger, thirst, and reproduction.

Unconscious

The part of the mind that is inaccessible to the conscious mind but that affects behavior and emotions.

Id

In psychoanalytic theory, the part of the personality that is the source of instinctual impulses and demands immediate satisfaction.