Figure 7-18 -Refer to Figure 7-18.Total Surplus Amounts to $500 If Consumer

question 26

Multiple Choice

Figure 7-18
-Refer to Figure 7-18.Total surplus amounts to $500 if consumer surplus amounts to

• A)$290 and if the price of the good is $150.
• B)$300 and if the price of the good is $130.
• C)$275 and if the price of the good is $160.
• D)$400 and if the price of the good is $100.

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Definitions:

Democratic

Pertaining to or characterized by the principles of democracy, involving fair and equal participation and representation of the people in the decision-making process.

Laissez-Faire

A leadership or management style characterized by a minimal amount of direct supervision, allowing individuals or teams considerable freedom in their work.

Transactional Leader

A leadership style focused on the exchange between leader and followers, where compliance is exchanged for specified rewards.

Transformational Leader

A leadership approach that causes change in individuals and social systems, by creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of a group.