Reference: Ref 5-2 (Figure: Slave Redemption) Refer to the Figure

question 41

Multiple Choice

Reference: Ref 5-2 (Figure: Slave Redemption) Refer to the figure. When slave redeemers enter the market, the number of slaves remaining in captivity is:

• A) 100.
• B) 400.
• C) 500.
• D) 1,100

---

Definitions:

Market Price

The current price at which an asset or service can be bought or sold in a given market.

Long Run

A period in economics where all factors of production and costs are variable, allowing companies to adjust to achieve the most efficient scale of operation.

Operating Profits

Earnings before interest and taxes (EBIT), representing the profit from a business's normal core business operations.

Short Run

In economics, a period during which at least one of a firm's inputs is fixed, limiting the firm's capacity to adjust to changes in demand.