Figure 15-7

question 81

Multiple Choice

Figure 15-7
In 2011, Verizon was granted permission to enter the market for cable TV in Upstate New York, ending the virtual monopoly that Time Warner Cable had in most local communities in the region. Figure 15-7 shows the cable television market in Upstate New York.
-Refer to Figure 15-7.Following the entry of Verizon,the subscription price falls from PM to PC.What is the increase in consumer surplus as a result of this change?

• A) the area A + B + C
• B) the area B + C
• C) the area D + F
• D) the area B + C + D

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Definitions:

Seminar

An academic conference or meeting for researchers or experts to discuss recent advancements in a specific field.

Performance

The act of carrying out a task or function, often evaluated in terms of effectiveness, efficiency, and outcome.

Infrastructure

The fundamental facilities and systems serving a country, city, or area, including transportation and communication systems, utilities, and public institutions, essential for the economy to function.

Public Works

Projects initiated by the government designed to build or improve public amenities such as roads, bridges, and schools.