Fred's Demand Schedule for Movie DVDs Is as Follows: at $30

question 33

Multiple Choice

Fred's demand schedule for movie DVDs is as follows: At $30, he would buy 1; at $25, he would buy two; at $15, he would buy 3; and at $10, he would buy 4.If the price of movie DVDs equals $25, the consumer surplus Fred receives from purchasing movie DVDs would be:

• A)zero.
• B)$5.
• C)$25.
• D)$55.
• E)$70.

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Definitions:

Percentage Calculation

The mathematical process of finding a portion of a number, represented as a fraction of 100.

Biweekly Pay

A payroll schedule where employees receive their wages every two weeks, totaling 26 payments per year.

Gross Earnings

Definition: The total amount of money earned by an individual or entity before any deductions are made.

Commission Rate

The percentage of a sale price paid to the salesperson or agent responsible for facilitating the transaction.