Figure 7-6 -Refer to Figure 7-6.At the Equilibrium Price,consumer Surplus Is

question 14

Multiple Choice

Figure 7-6
-Refer to Figure 7-6.At the equilibrium price,consumer surplus is

• A)$1,600.
• B)$800.
• C)$1,400.
• D)$700.

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Definitions:

Federalists

Members or supporters of the first American political party, which favored a strong central government and the ratification of the U.S. Constitution.

Separation of Powers

The division of government responsibilities into distinct branches to limit any one branch from exercising the core functions of another, typically identified as the executive, legislative, and judicial branches.

Federalism

A system of government in which power is divided between a central authority and constituent political units, such as states or provinces.

Constitution

A system of fundamental principles or established precedents according to which a state or other organization is governed; often refers to a written document that outlines these principles.