Price Is $50 and Quantity Demanded Is 2,000 Units at Point

question 40

Multiple Choice

Price is $50 and quantity demanded is 2,000 units at point A on a linear demand curve.The linear supply curve intersects the demand curve at point B,which is at a price of $30 and 3,000 units.Which of the following is true?

• A)Moving from point A to point B causes consumer surplus to rise by $50,000.
• B)Moving from point A to point B causes consumer surplus to rise by $10,000.
• C)Moving from point B to point A causes consumer surplus to rise by $10,000.
• D)Moving from point B to point A causes consumer surplus to rise by $50,000.

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Definitions:

Randomize()

A function in some programming languages used to initialize the random number generator to make the generation of random numbers less predictable.

Srand() Function

A function used in programming to seed the pseudo-random number generator, determining the starting point for generating a series of random numbers.

String Data Type

A data type used in various programming languages to store sequences of characters representing text.