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Case 4-1
Sara is 18 and she just graduated from high school. She is thinking about her future and is deciding to either apply to her local college to study sociology or to apply to the local police department to start working as a police officer.
Sara calls the police department and inquires about working for the police department.
-Sara asks the recruiter about the basic responsibilities of the police. Which would Sara say police are not responsible for?
Subsidy Payments
Financial support given by a government or organization to lower the price of a product or service or to support a business or economic sector.
Quantity Supplied
Quantity supplied refers to the total amount of a product or service that producers are willing and able to sell at a given price over a specified period.
Per Unit Tax
A tax levied on goods that is fixed in amount for each unit produced or sold.
Consumer Surplus
The gap in the total funds consumers are willing and financially prepared to allocate for a good or service, versus the funds actually allocated.
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