If the Supply Curve Is Q_S = 4P - 4

question 137

Multiple Choice

If the supply curve is Q_S = 4P - 4, then the highest price at which no producer is willing to sell the good (i.e., the supply choke price) is:

• A) 1.
• B) 4.
• C) 3.
• D) 2.

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Definitions:

Prescription Drug

Medication that legally requires a medical doctor's prescription to be dispensed.

Personal Selling

refers to a direct form of marketing where sales representatives personally meet with potential customers to pitch a product or service.

Free Samples

A marketing strategy where small quantities of the product are given away for free to consumers to try and increase awareness or sales.

Pull Strategy

A marketing approach where businesses aim to create demand for a product or service directly from customers, leading them to pull the product through the distribution channel.