As of 2010

question 22

Multiple Choice

As of 2010

• A)no single racial group constituted a majority in California.
• B)Asians were the largest single minority group in California.
• C)whites remained a majority in California.
• D)Hispanics became a majority in California.

---

Definitions:

Residual Demand Curve

The demand that remains for a firm's product after accounting for the demand captured by competitors in the market.

Supply Function

The mathematical relationship showing the quantity of a good or service that producers are willing to sell at each possible price.

Market Demand Curve

A graphical representation that shows the quantity of a product that consumers are willing and able to buy at various prices.

Cost Function

Represents the relationship between the cost of producing a good and the quantity produced, highlighting how costs change with changes in production volume.