The Price-Quantity Combination Found Where the Supply and Demand Curves

question 77

Multiple Choice

The price-quantity combination found where the supply and demand curves intersect is a unique combination that is efficient because

• A) producers can sell as much as they want.
• B) total surplus is maximized.
• C) tax revenue is sufficient to pay for government services.
• D) consumers can buy as much as they want.
• E) new products are being introduced.

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Definitions:

Intrapreneur

An employee within a company who is given the freedom and financial support to create new products, services, systems, or businesses, acting as an entrepreneur within the organization.

Venture Capitalist

An investor who provides capital to startup companies and small businesses with perceived long-term growth potential.

Diversify

The strategy of allocating investments or resources across various assets, industries, or sectors to reduce risk and enhance potential returns.

Tolerance For Failure

The willingness or capacity of an individual or organization to endure the negative effects of failures in pursuit of success.