Refer to the Below Diagrams in Which Figures (A)and (B)show

question 40

Multiple Choice

Refer to the below diagrams in which figures (a) and (b) show demand curves reflecting the prices Alvin and Elmer are willing to pay for a public good,rather than do without it.The collective willingness to pay for the 1^st unit of this public good is:

• A) $18
• B) $14
• C) $10
• D) $6

Define social change, collective behavior, and social movement, and identify inspirations for societal changes.

Critique the representation of crowds in mainstream press using theories of collective behavior.

Describe types of social movements and evaluate their potential to enact social change using examples.

Understand the roles and functions of shareholders, directors, and officers within a corporation.

---

Definitions:

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market equilibrium price.

Binding Price Floor

A legally established minimum price above the equilibrium price, causing a surplus in the market.

Hybrid Cars

Vehicles powered by a combination of an internal combustion engine and one or more electric motors, utilizing both fuel and electricity.

Consumer Surplus

The gap between what consumers are prepared to pay for a good or service and what they actually do pay.