C - Since generally, Wiki is used for facts rather then opinions. <span />
Answer:
b. the total consumer surplus will be the area beneath the demand curve but above the current price of backpacks
Explanation:
A situation where there are many buyers in the backpack market indicates that the demand for this product is high, so the consumer surplus that will be received by the backpack manufacturer will depend on how much the consumer is willing to pay for the backpack, in which case Total consumer surplus will be the area below the demand curve, but above the current price of the backpacks.
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Answer:
Mercantilism
Explanation:
Mercantilism, an economic policy designed to increase a nation's wealth through exports, thrived in Great Britain between the 16th and 18th centuries. Between 1640-1660, Great Britain enjoyed the greatest benefits of mercantilism.
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