-Refer to the Above Graph to Answer This Question

question 53

Multiple Choice

-Refer to the above graph to answer this question.What will be the result if the producer prices this product at $80?

• A)The producer will sell 20 units.
• B)The producer will sell 70 units.
• C)There will be a surplus of 70 units.
• D)There will be a shortage of 40 units.
• E)None of the choices are correct.

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Definitions:

Social Level

The standing or rank of an individual or group within the structure of a society, often determined by factors like occupation, income, or education.

Maslow's Hierarchy

A psychological theory proposed by Abraham Maslow that suggests human needs are arranged in a hierarchy, from basic physiological needs to self-actualization.

Motivated

Having a strong desire or willingness to act and achieve goals, driven by internal or external factors.

Extrinsic Rewards

Are provided by someone else.