Assume the Market Was in Equilibrium in the Graph Shown

question 82

Multiple Choice

Assume the market was in equilibrium in the graph shown. If the market price were set to $6, which of the following is true?

• A) For those still interacting in the market, some surplus is transferred from buyer to seller.
• B) For those still interacting in the market, some surplus is transferred from seller to buyer.
• C) Producers gain the surplus of those buyers who dropped out of the market.
• D) Consumers gain the surplus of those sellers who dropped out of the market.

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Definitions:

Tendonitis

An inflammation or irritation of a tendon, a thick cord that attaches bone to muscle.

Inflammation

A biological response of body tissues to harmful stimuli, such as pathogens, damaged cells, or irritants, characterized by redness, warmth, swelling, and pain.

Tendon

A tough, flexible band of fibrous tissue that connects muscles to bones, enabling movement of the body.

Cerebellar Nerve Impulses

Electrical signals generated in the cerebellum, part of the brain responsible for coordinating voluntary movements.