The Figure Below Shows the Supply and Demand Curves for Oranges

question 75

Multiple Choice

The figure below shows the supply and demand curves for oranges in Smallville. When this market is in equilibrium, total economic surplus is ______ per day.

• A)$0
• B)$80
• C)$160
• D)$320

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Definitions:

Situation Analysis

The process of evaluating the current status of a company or project to identify strengths, weaknesses, opportunities, and threats (SWOT).

Stewardship Considerations

Involves responsible planning and management of resources, ensuring they are used ethically and sustainably.

Ongoing Relationship

A continuous interaction or connection between individuals or entities that evolves over time.

Discrimination

The unfair or prejudicial treatment of people based on characteristics such as race, age, gender, or disability.