Exhibit 6-7 -Refer to Exhibit 6-7. If Market Price Is $18, Producer

question 13

Multiple Choice

Exhibit 6-7
-Refer to Exhibit 6-7. If market price is $18, producer surplus for the profit-maximizing firm is

• A)$14.
• B)$15.
• C)$13.
• D)$8.
• E)$11.

---

Definitions:

Intended Beneficiary

An individual or entity explicitly chosen to benefit from a contract, even though they are not a direct party to the agreement.

Incidental Beneficiary

A third party who benefits from a contract between two other parties, even though the benefit was not the contract’s primary purpose or intention.

Courts

Judicial institutions authorized to hear and resolve disputes, applying the law to specific cases.

Tests

Procedures or measures used to assess various attributes or performance often in educational, scientific, or medical contexts.