A Customer Can Choose One of Two Amplifiers,one of Three

question 10

Multiple Choice

A customer can choose one of two amplifiers,one of three compact disc players,and one of five speaker models for an entertainment system.Determine the number of possible system configurations. ​

• A)40
• B)35
• C)​30
• D)25
• E)20

---

Definitions:

Price Floor

A government-imposed minimum price that can be charged for a good or service, intended to prevent prices from dropping too low.

Consumer Surplus

The differentiation between what consumers are prepared to expend on a good or service and the sums they actually do.

Supply Curve

An illustrated chart that demonstrates how the supply quantity relates to a good's price.

Producer Surplus

The discrepancy between what sellers are prepared to accept for a commodity and the real payment they secure from selling it at the prevailing market price.