Use the Following to Answer Questions

question 105

Multiple Choice

Use the following to answer questions:
-(Table: Consumer Surplus) Look at the table Consumer Surplus. Assume that each student wants to buy one ticket. If the price of a ticket to see The Nutty Nutcracker is $75 and there is no other market for tickets, the total consumer surplus for the five students is:

• A) $190.
• B) $125.
• C) $40.
• D) $0.

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Definitions:

King Henry VIII

The king of England from 1509 to 1547, known for his six marriages and role in the separation of the Church of England from the Roman Catholic Church.

1555 Papal Bull

refers to the 'Peace of Augsburg,' a decree by the Holy Roman Emperor that allowed princes to choose either Lutheranism or Roman Catholicism as the official confession in their territories.

Paul IV

Pope from 1555 to 1559, who was notable for his role in the Counter-Reformation and his efforts to enforce the censorship of publications.

Council of Trent

An ecumenical council of the Roman Catholic Church convened between 1545 and 1563 to address the challenges of the Protestant Reformation and clarify Catholic doctrine.