Table 7-7
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-Refer to Table 7-7

question 160

Multiple Choice

Table 7-7
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​
$$\begin{array} { | c | c | } \hline \text { Seller } & \begin{array} { c } \text { Cost } \\\text { (Dollars) }\end{array} \\\hline \text { Mike } & 1,600 \\\hline \text { Laura } & 1,300 \\\hline \text { Alex } & 1,200 \\\hline \text { David } & 900 \\\hline \text { Codi } & 700 \\\hline\end{array}$$ ​
-Refer to Table 7-7. If the market price is $1,000, the producer surplus in the market is

• A)$100.
• B)$400.
• C)$300.
• D)$600.

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Definitions:

Authority

The power or right to give orders, make decisions, and enforce obedience.

Enforce Decisions

The act of implementing or ensuring compliance with a rule, law, or decision through authority or legal means.

Direct Democracy

A form of democracy in which the people directly participate in the decision-making process, rather than through elected representatives.

Framers

The individuals who were instrumental in drafting and shaping the United States Constitution during the Constitutional Convention of 1787.