-In the Above Figure,if the Quantity Is Restricted to 500,000

question 66

Multiple Choice

-In the above figure,if the quantity is restricted to 500,000 and the price is allowed to rise to set the quantity demanded equal to the quantity supplied,then area C + area E is equal to

• A) deadweight loss.
• B) consumer surplus.
• C) total surplus.
• D) producer surplus.
• E) total revenue.

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Definitions:

Punishment

An unpleasant consequence given to reduce the occurrence of a particular behavior.

Stimulus Response Bond

The connection formed between a specific stimulus and a specific response through conditioning.

Matching Law

A principle in behavioral psychology stating that the proportion of responses directed toward an option matches the proportion of reinforcements obtained from that option.

Contend

To strive in opposition or against difficulties; to compete or argue.