Suppose There Are Four Firms That Are Each Willing to Sell

question 18

Multiple Choice

Suppose there are four firms that are each willing to sell one unit of a good. Each firm has a different minimum price that they are willing to sell for: Firm A, $6; Firm B, $7; Firm C, $10; and Firm D, $12. If the market price is $11 then the market supply for this good will be

• A) 4 units.
• B) 1 unit.
• C) 2 units.
• D) 3 units.

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Definitions:

Control Anger

The practice of recognizing signs of anger and managing them in a healthy way to avoid negative outcomes.

Wrongdoers

Individuals who commit illegal or immoral acts.

Vicious Cycle

A sequence of reciprocal cause and effect in which two or more elements intensify and worsen each other, leading to a deteriorating situation.

Emotional Intelligence

The capability to recognize, understand, manage, and reason with emotions in oneself and others.