If a Supply Curve Goes Through the Point P = $Q _ { 5 }$

question 18

Multiple Choice

If a supply curve goes through the point P = $10 and $Q _ { 5 }$ = 320,then

• A)$10 is the highest price that will induce firms to supply 320 units.
• B)$10 is the lowest price that will induce firms to supply 320 units.
• C)at a price higher than $10 there will be a surplus.
• D)at a price lower than $10 there will be a shortage.
• E)both c and d

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Definitions:

Irish Immigrants

refers to people from Ireland who moved to another country, especially to the United States in the 19th and early 20th centuries, often escaping famine and seeking better economic opportunities.

North America

A continent entirely within the Northern Hemisphere and almost all within the Western Hemisphere, including countries such as Canada, the United States, and Mexico.

Atlantic Slave Trade

The transatlantic trading of African slaves by European traders, mainly to the Americas from the 16th to 19th centuries, part of the global slave trade.

Rhode Island

The smallest U.S. state by area, located in the New England region, known for its sandy shores and maritime history.