Table 5.1 -Refer to Table 5.1.The Table Above Lists the Highest Prices

question 5

Multiple Choice

Table 5.1
-Refer to Table 5.1.The table above lists the highest prices three consumers, Tom, Dick and Harriet, are willing to pay for a short-sleeved polo shirt.If the price of the shirts falls from $28 to $20,

• A)consumer surplus increases from $14 to $35.
• B)Tom will buy two shirts; Dick and Harriet will each buy one shirt.
• C)consumer surplus will increase from $70 to $95.
• D)Harriet will receive more consumer surplus than Tom or Dick.

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Definitions:

Glycerol

A simple polyol compound that forms the backbone of triglycerides, which are the main constituents of body fat in humans and other animals.

Nucleotide

The basic building block of nucleic acids, such as DNA and RNA, consisting of a base (adenine, cytosine, guanine, thymine in DNA; adenine, cytosine, guanine, uracil in RNA), a molecule of sugar (deoxyribose in DNA and ribose in RNA), and a phosphate group.

Base

A substance that accepts protons from acids according to the Brønsted-Lowry acid-base theory and has a high pH in solution.

Sugar

A sweet-tasting carbohydrate that is used as a source of energy in living organisms.