Use the Following to Answer Questions

question 85

Multiple Choice

Use the following to answer questions
Figure: Determining Surplus 3
-(Figure: Determining Surplus 3) In the graph,how much is consumer surplus?

• A) $30
• B) $60
• C) $140
• D) $280

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Definitions:

Nonconforming Goods

Products that do not meet the specifications, standards, or quality as stated in a purchase contract.

Not a Merchant

This term indicates an individual or entity that is not engaged in the buying and selling of goods or services, typically within the context of commercial law.

Reasonable Time

A legal term referring to a period of time that is fairly appropriate under the circumstances to perform a particular act or fulfill a duty.

Revoke Acceptance

The right of a party to reject goods or services previously accepted, typically due to the discovery of defects or the nonconformity of the goods or services with contractual terms.