Which of the Following Is True?​

question 94

Multiple Choice

Which of the following is true?​

• A)​A lower price will increase your consumer surplus by the amount you were buying originally, times the reduction in the price.
• B)​A lower price will leave unchanged your consumer surplus for each of the units you were already consuming, but will increase consumer surplus from increased purchases at the lower price.
• C)​A lower price will decrease your producer surplus for each of the units you were producing, but will not change producer surplus by changing the quantity sold.
• D)​None of the above is true.

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Definitions:

Contingency Theory

A leadership theory that suggests the effectiveness of a leader's style is contingent on the context and task at hand.

Situation Favorability

The degree to which circumstances or conditions are beneficial or advantageous for a specific purpose or action.

Position Power

The authority and influence a person holds in an organization by virtue of the position they occupy.

Task Motivated

Refers to individuals or leaders who are primarily focused on completing tasks and achieving goals.