Suppose That the Demand Function for an Appliance Is

question 278

Multiple Choice

Suppose that the demand function for an appliance is where q is the number of units and p is in dollars. What is the consumer's surplus if the equilibrium price is $17.6 and the equilibrium quantity is 21? Round your answer to the nearest dollar. ​

• A) $473
• B) $475
• C) $811
• D) $848
• E) $474

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Definitions:

Distinctiveness

The degree to which something is perceived as being different or unique compared to others.

Consistency

The quality of maintaining uniformity, coherence, and reliability in actions, attitudes, or conditions over time.

Consensus

A general agreement among a group of people, often used as a means of decision-making.

Fundamental Attribution Error

Refers to the tendency of individuals to overemphasize personality-based explanations for behaviors observed in others while underestimating the influence of situational factors.