Use the Following to Answer Question

question 78

Multiple Choice

Use the following to answer question:
-(Figure: The Gains from Trade) Look at the figure The Gains from Trade.What is the total surplus in this market when the demand curve is D₁ and the market is in equilibrium?

• A)$25.00
• B)$31.25
• C)$62.50
• D)$90.00

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Definitions:

Slave Masters

Individuals or entities that owned and controlled the lives of enslaved people, a practice particularly prevalent in the American South before the Civil War.

Slave Families

Family units formed by enslaved people, often facing forced separations and conditions aiming to undermine familial bonds.

Scots

People originating from Scotland, a country that is part of the United Kingdom, with a rich cultural heritage including traditions, languages, and historical contributions.

North America

A continent in the Northern Hemisphere and almost entirely within the Western Hemisphere, including countries such as Canada, the United States, and Mexico.