Table 5.6 -Refer to Table 5.6.The Equations Above Describe the Demand and the Demand

question 63

Multiple Choice

Table 5.6
-Refer to Table 5.6.The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick.The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units.What is the value of economic surplus in this market?

• A)$300 thousand
• B)$600 thousand
• C)$1200 thousand
• D)$1600 thousand

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Definitions:

Diorite

A durable, coarse-grained igneous rock primarily composed of plagioclase feldspar and hornblende, often used in sculpture and building construction.

Azurite

Azurite is a deep blue copper mineral produced by the oxidation of copper ore deposits. It has been used historically as a pigment in art and jewelry.

Fertility

The natural capability to produce offspring or yield a crop, often symbolized and revered in various cultures through art, rituals, and deities.

Inscription

Text that is written, carved, or engraved on a surface, often for the purposes of dedication, commemoration, or identification.