Scenario 7-1
Suppose Market Demand Is Given by the Equation $$Q ^ { D } = 40 - 2 P$$

question 187

Short Answer

Scenario 7-1
Suppose market demand is given by the equation
$$Q ^ { D } = 40 - 2 P$$
-Refer to Scenario 7-1. If the market equilibrium price rises from $10 to $15, what is the change in total consumer surplus in the market?

---

Definitions:

Recategorization

A cognitive process that involves changing the classification or grouping of information, often to reduce intergroup bias.

Dehumanization

The process of depriving a person or group of positive human qualities, leading to the perception of them as less than human.

Cross-Categorization

Cross-Categorization is the practice of classifying individuals or items into multiple overlapping categories or groups based on different attributes.

Positive Contact Situations

Interactions in which individuals from different backgrounds or groups come together in a supportive, cooperative environment, leading to reduced prejudice and enhanced relationships.