FIGURE 13- 3 the Demand and Supply Curves Shown Below

question 43

Multiple Choice

FIGURE 13- 3 The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets.

-Refer to Figure 13- 3.This factor market is in equilibrium at point B.Which of the following statements best describes factor payments at point B?

• A)total factor earnings are $320 and the 40th unit earns zero rent
• B)total factor earnings are $320
• C)economic rent to the 40th unit is $320
• D)total income paid to the factor is $8
• E)total factor earnings are $320 and the 40th unit earns economic rent of $8

---

Definitions:

Ileostomy

A surgical procedure that creates an opening in the abdomen for waste to exit the body from the ileum, bypassing the colon.

Ostomy Device

A medical appliance attached to the body to collect waste from a surgically created opening in the digestive or urinary systems.

Bedridden

The condition of a person who is unable to get up from bed due to illness, disability, or weakness.

Mineral Oil

A colorless, odorless petroleum derivative used as a laxative or to soothe skin.