What Is the Output of the Following Code Snippet

question 39

Multiple Choice

What is the output of the following code snippet?

• A)25
• B)50
• C)49
• D)26

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Definitions:

Price Floor

A government-imposed minimum price below which a specific good or service cannot legally be sold, aimed at protecting producers or encouraging certain activities.

Total Surplus

The complete net profit to society from the production and consumption of a good or service, reflected in the sum of consumer surplus and producer surplus.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market balance.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, often seen as a measure of producer welfare.