If a Supply Curve Goes Through the Point P = $Q _ { s }$

question 22

Multiple Choice

If a supply curve goes through the point P = $10 and $Q _ { s }$ = 320, then

• A) $10 is the highest price that will induce firms to supply 320 units.
• B) $10 is the lowest price that will induce firms to supply 320 units.
• C) at a price higher than $10 there will be a surplus.
• D) at a price lower than $10 there will be a shortage.
• E) both c and d

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Definitions:

Co-worker

A co-worker is an individual who works with others in the same organization or on the same team, often sharing tasks, responsibilities, and goals within the workplace.

Referent Power

A form of influence that stems from an individual's ability to be admired and identified with, leading others to follow out of respect or admiration.

Legitimate Power

The authority or power that is recognized as rightful or lawful, often derived from a position of authority in an organizational hierarchy.

Authority Motivation

A drive or ambition to influence, lead or command others.