It Costs Suppliers $1 to Produce Each Additional Widget, and Widgets

question 133

Multiple Choice

It costs suppliers $1 to produce each additional widget, and widgets sell for $2. Some consumers are not willing to pay $2 for a widget but are nevertheless willing to pay more than $1. Which of the following statements is TRUE?

• A) The market is at equilibrium.
• B) Suppliers must be reaping big profits.
• C) There are unexploited gains from trade.
• D) Consumers will bid up prices.

Understand the impact of external stimuli and conditions on sleep quality and patterns.

Comprehend the role of sleep in physiological and psychological health.

Describe the effects of psychoactive substances on the brain and behavior.

Recognize the therapeutic approaches to sleep disorders.

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Definitions:

Oral-B Toothbrushes

A brand known for its dental hygiene products, including a wide range of toothbrushes catering to various oral care needs.

Technological and Regulatory

Refers to the area involving the adaptation to and compliance with laws and regulations that are influenced by the evolving technological landscape.

Digital Signatures

A cryptographic method that verifies the authenticity and integrity of digital documents or messages.

Electronic Signatures in Global and National Commerce Act

A U.S. law that facilitates the use of electronic records and signatures in interstate and foreign commerce by ensuring their validity and legal effect.