Reference: Ref 4-6 (Figure: Gains from Trade) Refer to the Figure

question 56

Multiple Choice

Reference: Ref 4-6 (Figure: Gains from Trade) Refer to the figure. What are the total gains from trade at the free market equilibrium?

• A) $1,000
• B) $500
• C) $0
• D) $1,500

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Definitions:

Intelligence

The capacity for learning, understanding, problem-solving, and adapting to new situations.

Identical Twins

Twins who develop from a single fertilized egg that splits into two, leading them to be genetically identical and share nearly 100% of their DNA.

Fraternal Twins

Siblings born at the same time but developed from separate eggs fertilized by different sperm cells, resulting in babies that are genetically distinct.

Franz Mesmer

An 18th-century German physician who proposed the theory of animal magnetism and is considered a pioneer in the study of hypnosis.