Total Surplus

question 56

Multiple Choice

Total surplus:

• A) can never be negative.
• B) is always zero in an efficient market.
• C) can be negative when the market is not in equilibrium.
• D) is greater than the sum of consumer and producer surplus.

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Definitions:

Extinction

The process by which a species, genus, or family of organisms becomes extinct, no longer existing and living in the world.

Spontaneous Recovery

The rebirth of an extinguished response after a break, without the need for relearning.

Spontaneous Recovery

The reappearance of a previously extinguished conditioned response after a period of no exposure to the conditioned stimulus.

Counterconditioning

A behavioral therapy technique that involves the conditioning of an unwanted behavior or response to a stimulus into a desired behavior by associating the stimulus with a new, incompatible response.