Table 17-8 For a Certain Small Town, the Table Shows the Demand

question 152

Multiple Choice

Table 17-8
For a certain small town, the table shows the demand schedule for water. Assume the marginal cost of supplying water is constant at $4 per bottle and there are no other costs.
-Refer to Table 17-8. If there were only one supplier of water, what would be the price and quantity?

• A)The price would be $7 per gallon and the quantity would be 600 gallons.
• B)The price would be $6 per gallon and the quantity would be 800 gallons.
• C)The price would be $5 per gallon and the quantity would be 1000 gallons.
• D)The price would be $4 per gallon and the quantity would be 1200 gallons.

Realize the strategic use of media relations to influence negotiation outcomes.

Learn the implications of constituency management and communication strategies on negotiation processes.

Understand the role and impact of constituencies in negotiation processes.

Identify conditions when audiences become indirectly involved in negotiations.

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Definitions:

Domestic Demand

The total demand for goods and services within a country, including both consumer and governmental purchases.

Calculators

Electronic devices or software used to perform calculations, ranging from simple arithmetic to complex mathematical operations.

World Trade Organization

An international body that deals with the rules of trade between nations, aiming to ensure that trade flows as smoothly, predictably, and freely as possible.

International Trade

The exchange of goods and services between countries, driven by comparative advantages.