Refer to the Table Below to Answer the Following Questions

question 74

Multiple Choice

Refer to the table below to answer the following questions.
Table 7.3.1
Canada's Market for Widgets

-Table 7.3.1 shows the Canadian supply of and demand for widgets.Widgets are available on the world market for $7.If the Canadian government imposes a tariff of $1,the domestic selling price will be ________ and quantity bought in Canada will be ________.

• A)$6;48 million
• B)$7;44 million
• C)$8;16 million
• D)$8;24 million
• E)$8;40 million

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Definitions:

Encoding

The initial process of converting information into a form that can be stored in memory, involving perception, awareness, and comprehension.

Storage

The process of retaining information over time in memory.

Rehearsal

The cognitive process of repeatedly practicing or reviewing material to enhance memory retention.

Five-Dollar Bill

A banknote valued at five units of currency, typically issued by national governments.