Assume the Market Is in Equilibrium in the Graph Shown

question 36

Multiple Choice

Assume the market is in equilibrium in the graph shown at demand D and supply S₂ (at a quantity of 6) . If the supply curve shifts to S₁, and a new equilibrium is reached (at a quantity of 4) , which of the following is true?

• A) Total surplus would increase by $7.50.
• B) Total surplus would decrease by $16.50.
• C) Total surplus would increase by $32.
• D) Total surplus would decrease by $14.00.

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Definitions:

Language Development

The process by which individuals acquire the capacity to perceive, produce, and use words to understand and communicate.

Hemisphere

Half of a spherical or roughly spherical body, especially one of the halves into which the earth or brain is divided.

Brain Weight

The mass of the brain, which can vary depending on age, sex, and size of the individual, and is a factor sometimes considered in neuroscientific research.

Zone of Proximal Development

A concept in psychology introduced by Vygotsky, referring to the difference between what learners can do without help and what they can achieve with guidance and encouragement from a skilled partner.