Suppose That a Local Government Has Imposed a Quota of 0.5

question 110

Multiple Choice

Suppose that a local government has imposed a quota of 0.5 million gallons on water usage. Before the quota is enforced, the market demand curve is given by
Q^D = 10 - 2.25P
And the market supply curve is given by
Q^S = -10 + 2.75P
Where the quantity is measured in millions of gallons per month and the price is in dollars per thousand gallons. The deadweight loss as a result of the quota is ____.

• A) $1,000
• B) $500,000
• C) $1,500
• D) $1,605

Understand how to write professional letters in response to job offers or to decline them.

Appreciate the importance of body language in interviews.

Understand the importance of follow-up communication after a job interview.

Identify the types of employment messages common post-interview and their purposes.

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Definitions:

External Locus

A psychological concept referring to individuals who believe that external forces or events primarily control their life outcomes.

Depression

A state of mental distress denoted by a lasting sense of gloom or lack of involvement in routine interests, significantly eroding the ability to manage daily life.

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An individual's personal assessment of their happiness and life satisfaction.

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Animals that are kept in a controlled environment, such as zoos or research facilities, and not living in the wild.