The Demand Curve for Boxing Programs on TV Is Plotted

question 116

Multiple Choice

The demand curve for boxing programs on TV is plotted in the graph below:
If viewing the boxing show was free to any consumer who tuned in,what would be the economic surplus?

• A)$25 million
• B)$50 million
• C)$225 million
• D)$625 million

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Definitions:

Outstanding Checks

Checks that have been written and recorded in the checking account but have not yet been cashed or cleared by the bank.

Payee

The side in a financial exchange that is given the payment.

Bank

A financial institution licensed to receive deposits and provide loans, along with offering various other financial services.

Postage Expense

The cost incurred by a business for sending mail, packages, or parcels through the postal service or courier companies.