Refer to the Following Graphs

question 50

Multiple Choice

Refer to the following graphs. In the early 1990s, mounds of newspapers and worthless plastic piled up at recycling centers. As the nation's economy continued to grow, increased demand eliminated the mounds and turned them into shortages. In the mid-1990s, as recycling became more popular, the mounds of recycled materials returned. What graph best depicts these events on the market for recycled materials?

• A)Price remained constant at P0. Quantity demanded first rose, while supply remained constant; quantity supplied then rose, while demand remained constant.
• B)Price remained constant at P0. Supply first shifted from S1 to S0 and then back to S1.
• C)Price remained constant at P0. Demand shifted from D0 to D1 then supply shifted from S0 to S1.
• D)Price remained constant at P0. Demand shifted from D0 to D1 and then back to D0.

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Definitions:

Ethical Concerns

Considerations related to determining what is right or wrong in a moral sense, often applied in professional and personal decision-making.

Psychological Study

The scientific research and analysis of human behavior, emotions, and mental processes.

Self-Image

A person's mental representation of themselves, shaped by personal experiences, social interactions, and internalized beliefs and attitudes.

Legitimate Authority

A concept in sociology and psychology referring to an authority recognized as rightful or lawful by those over whom it is exercised, often based on social norms or government position.