Use the Following Information for the Next 3 Questions

question 25

Multiple Choice

Use the following information for the next 3 questions.
Vashon Corporation had the following activity during a recent period:
-The actual price per pound was

• A) $12.00
• B) $12.25
• C) $12.50
• D) $13.00

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Definitions:

Economic Inefficiencies

Occurrences where resources are not allocated optimally, leading to lost potential output or welfare.

Monopsony

Market with only one buyer.

Public Goods

Public goods are commodities or services that are provided without profit to all members of a society, either by the government or a private individual or organization.

Nonexclusive Good

Good that people cannot be excluded from consuming, so that it is difficult or impossible to charge for its use.