On the Graph of Domestic Water Use Per Person, Each

question 15

Multiple Choice

On the graph of domestic water use per person, each letter represents a country. Which of the following is most likely?

• A) A is the United States; B is China
• B) B is the United States; A is China
• C) A is the United States; B is Canada
• D) B is India; A is China
• E) A is India; B is China

---

Definitions:

Competitive Market

A market where there are many buyers and sellers so that no single buyer or seller can influence the price or market conditions.

Economic Profits

The variance between a corporation's total earnings and all its explicit and implicit expenditures.

Zero-profit Equilibrium

A situation in a perfectly competitive market where firms just cover their costs, leaving no surplus for economic profit.

Consumer Preference

The subjective tastes and preferences that influence buyers' choices of goods and services.