Total Surplus Is Represented by the Area

question 99

Multiple Choice

Total surplus is represented by the area

• A)under the demand curve and above the price.
• B)above the supply curve and up to the price.
• C)under the supply curve and up to the price.
• D)between the demand and supply curves up to the point of equilibrium.

---

Definitions:

Expectancy Theory

A process theory that states that motivation is determined by the outcomes that people expect to occur as a result of their actions on the job.

High Level

Referring to something that is of great importance, complexity, or positioned at the top of a hierarchy or system.

Instrumentality

The probability that a particular first-level outcome will be followed by a particular second-level outcome.

Expectancy

The probability that a particular first-level outcome can be achieved.