Use the Following to Answer Questions

question 213

Multiple Choice

Use the following to answer questions :
Figure: The Market for Hamburgers
-(Figure: The Market for Hamburgers) The figure The Market for Hamburgers shows the weekly market for hamburgers in Moncton.If the price of a hamburger falls from $2.00 to $1.50,the gain in consumer surplus to consumers who are persuaded to buy at the lower price (and who were not buying when the price was $2.00) is equal to:

• A) $100.
• B) $75.
• C) $50.
• D) $25.

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Definitions:

Common-Carrier Delivery Contracts

Agreements between an individual or company and a carrier, regulated by government agencies, concerning the transport of goods or passengers for a fee.

Destination Contracts

Contracts specifying that the seller will bear the risk and expense until the goods are delivered to a specific location.

Shipment Contracts

Agreements involving the sale of goods where the seller is required to ship the goods to the buyer, but the risk of loss passes to the buyer once the goods are delivered to the carrier.

Social Network Analysis

Identifies the informal structures and their embedded social relationships that are active in an organization.