Use the Following to Answer Questions: Table: Willingness to Sell

question 42

Multiple Choice

Use the following to answer questions: Table: Willingness to Sell $$\begin{array} { l c } \hline \text { Country } & \begin{array} { c } \text { Minimum willingness to sell } \\\text { a single barrel of oil }\end{array} \\\hline \text { Country X } & \$ 12.00 \\\text { Country Y } & 5.99 \\\text { Country Z } & 17.25 \\\text { Country A } & 36.99 \\\hline\end{array}$$
-(Table: Willingness to Sell) Refer to the table. Which country is earning the least amount of producer surplus at a market price of $52 per barrel of oil?

• A) Country X
• B) Country Y
• C) Country Z
• D) Country A

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Definitions:

Calvin-Benson Cycle

A series of biochemical redox reactions taking place in the stroma of chloroplasts in photosynthetic organisms, crucial in fixing carbon from CO2 into organic compounds.

Autotrophs

Organisms that produce their own food from inorganic substances using light or chemical energy, with plants being the most common examples.

Environment

The surrounding conditions and factors that affect living organisms and ecosystems, including both natural and man-made elements.

Carbon

Carbon is a chemical element with symbol C and atomic number 6, essential to all known life forms and the basis of organic chemistry, forming a vast number of compounds including carbon dioxide and organic molecules.