-Refer to the Graph Above to Answer This Question

question 41

Multiple Choice

-Refer to the graph above to answer this question.What would be the result if the government imposes a quota of 250 units in this market?

• A)There would be a shortage of 100 units.
• B)There would be a shortage of 150 units.
• C)There would be a shortage of 200 units.
• D)There would be a shortage of 300 units.
• E)There would be no shortage.

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Definitions:

Product Service

A combination of physical products and services provided as a bundle to meet a consumer's need or desire.

Limited Partnership

A form of partnership consisting of at least one general partner who manages the business and assumes legal debts and obligations, and one or more limited partners who are liable only to the extent of their investments.

General Partner

An owner of a partnership who is actively involved in its management and has unlimited personal liability for the business debts.

Business Management

The activities associated with running a company, such as planning, organizing, directing, and controlling, to achieve business objectives.