Mike Likes to Drink a Commercially Prepared Milk-Based Beverage

question 42

Multiple Choice

Mike likes to drink a commercially prepared milk-based beverage.According to the label,the flavored milk contains 2% milk,water,high-fructose corn syrup,molasses,vegetable oil,saccharin,and natural vanilla flavoring.The _____ in this beverage are its sources of carbohydrate.

• A)high-fructose corn syrup and saccharin
• B)2% milk,saccharin,and vanilla
• C)high-fructose corn syrup,water,and vanilla
• D)molasses,2% milk,and high-fructose corn syrup

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Definitions:

Deadweight Loss

The loss of economic efficiency that can occur when equilibrium for a good or service is not achieved.

Tariff

A tax imposed by a government on imported goods, often used to protect domestic industries and to raise government revenue.

Total Surplus

The sum of consumer and producer surplus, representing the total net benefit to society from the production and consumption of goods and services.

World Price

The international market price of a good or service, influenced by factors like supply and demand, tariffs, and trade agreements.