Table-Demand and Utility Table for Action Figures -If the Price of Action Figures Was $8

question 125

Multiple Choice

Table-Demand and Utility Table for action figures $$\begin{array} { | c | c | c | c | } \hline \text { Price } & \text { Quantity Demanded } & \text { Marginal Utility } & \text { Total Utility } \\\hline \$ 14 & 1 & & \\\hline \$ 12 & 2 & & \\\hline \$ 10 & 3 & & \\\hline \$ 8 & 4 & & \\\hline \$ 6 & 5 & & \\\hline\end{array}$$
-If the price of action figures was $8.00 each,his consumer surplus would be

• A)$8.
• B)$12.
• C)$16.
• D)$32.
• E)$44.

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Definitions:

Functionalist Analysis

A sociological perspective that analyzes every component of society by examining its role in maintaining the overall societal stability.

Stratification

A sociological term referring to the classification of society into groups based on wealth, power, and social status.

Progressive Taxation

A taxing system where the tax rate increases as the taxable amount increases, with higher income individuals paying a higher percentage of their income than lower-income individuals.

Regressive Taxation

A tax system where the tax rate decreases as the taxable amount increases, placing a higher relative burden on lower-income earners.