Reference: Ref 14-6 (Table: Willingness to Pay) Refer to the Table

question 13

Multiple Choice

Reference: Ref 14-6 (Table: Willingness to Pay) Refer to the table. Assume the firm has zero costs. If the firm were to set individual prices for each of the two goods, how much total profit does it earn from Good B?

• A) $70
• B) $30
• C) $100
• D) $120

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Definitions:

New Deal Coalition

An alliance of interest groups and voting blocs in the United States that supported the New Deal and the Democratic Party during the presidency of Franklin D. Roosevelt.

Segregationist Southern Wing

Part of political or social organizations in the Southern United States that advocated for or practiced racial segregation, particularly during and after the era of Jim Crow laws.

National Party Conventions

Large meetings where political parties nominate their presidential and vice-presidential candidates, adopt a platform, and unify party members ahead of a national election.