The Sum of the Economic Surpluses Accruing to Buyers and Sellers

question 112

Multiple Choice

The sum of the economic surpluses accruing to buyers and sellers is

• A)producer surplus.
• B)deadweight loss.
• C)total economic surplus.
• D)conspicuous consumption.
• E)consumer surplus.

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Definitions:

Frontal Cortex

A region of the brain located at the front that is responsible for complex cognitive functions, decision-making, and moderating social behavior.

Hypothalamus

A region of the brain that regulates important functions, including temperature control, thirst, hunger, sleep, mood, and the release of hormones.

Midbrain

A region of the brainstem involved in vision, hearing, motor control, sleep/wake, arousal, and temperature regulation.

Hayflick Limit

Genetically controlled limit, proposed by Hayflick, on the number of times cells can divide in members of a species.