The Table Below Shows the Total Value (In Dollars)that Andrew

question 5

Multiple Choice

The table below shows the total value (in dollars) that Andrew gets from playing 9-hole rounds of golf.
TABLE 6-3
-Refer to Table 6-3.If the price of a 9-hole round of golf is $16,and Andrew is maximizing his utility,then his consumer surplus will be

• A)$310.
• B)$108.
• C)$92.
• D)$44.
• E)$16.

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Definitions:

NAFTA

The North American Free Trade Agreement (NAFTA) was a treaty among the United States, Canada, and Mexico that eliminated most tariffs and trade barriers between the countries, in effect from 1994 to 2020.

Trade Deficit

A scenario in which a nation's expenditure on imported goods and services surpasses its revenue from exports, resulting in a greater outflow of money than inflow.

Trade Surplus

A situation in which a country exports more goods and services than it imports.

GATT Negotiations

Series of negotiations under the General Agreement on Tariffs and Trade aimed at reducing trade barriers and promoting international trade.