The Diagram Below Shows Supply,demand,and Quantity Exchanged of Monday Matinee

question 115

Multiple Choice

The diagram below shows supply,demand,and quantity exchanged of Monday matinee movie tickets.Assume it is a perfectly competitive market. FIGURE 12-4
-Refer to Figure 12-4.Suppose a disequilibrium price of $7.50 per movie ticket is imposed on this market.The total economic surplus is now ________,which is ________ than the total economic surplus generated at the allocatively efficient level of output.

• A)$125; $250 less
• B)$125; $125 less
• C)$187.50; $62.50 less
• D)$62.50; $125 less
• E)$187.50; $187.50 less

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Definitions:

Glucose

A simple sugar and important energy source for the body, serving as the primary fuel for the brain and muscles during physical activity.

Liver

A vital organ in the body that processes nutrients, detoxifies harmful substances, and produces bile.

Skeletal Muscles

A type of striated muscle tissue which is under voluntary control and is responsible for movement of the skeleton, as well as posture and body position.

Vitamins

Essential organic substances necessary for healthy growth and nutrition, which must be included in the diet in small amounts due to the body's inability to produce them.