Figure 9-13 -Refer to Figure 9-13.Consumer Surplus Before Trade Is

question 162

Multiple Choice

Figure 9-13
-Refer to Figure 9-13.Consumer surplus before trade is

• A)$1,600.
• B)$2,400.
• C)$3,200.
• D)$3,600.

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Definitions:

Dividends Declared

Profits distributed by a company to its shareholders out of its earnings, based on the number of shares owned.

Retained Earnings

Profits that a company has earned to date, less any dividends or other distributions paid to shareholders, often reinvested in the business or kept as a reserve.

Cost Of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor costs, but excluding indirect expenses.

Expense

An outflow of cash or other valuable assets from a person or company to another entity in exchange for goods or services.