-The Table Above Gives the Demand Schedule for Water Bottled

question 118

Multiple Choice

-The table above gives the demand schedule for water bottled by Wanda's Healthy Waters. If the marginal cost is a constant $4 a bottle, Wanda's will produce _______ a day and charge _______ a bottle.

• A) 4 bottles; $12
• B) 8 bottles; $8
• C) 1 bottle; $15
• D) 6 bottles; $10

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Definitions:

Cooling-Off Period

A statutorily defined period during which purchasers in door-to-door sales may change their minds and rescind a contract.

Bill of Exchange

A written order used in international trade that binds one party to pay a fixed sum of money to another party at a predetermined future date.

Cheque

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or the person/entity named on it.

Interest Act

A law governing the calculation and payment of interest due on debts or loans, to prevent usury and unfair practices.