List the Ordered Pair Corresponding to the Indicated Point

question 12

Multiple Choice

List the ordered pair corresponding to the indicated point.
-G

• A)(0, 3)
• B)(0, -3)
• C)(3, 0)
• D)(-3, 0)

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Definitions:

Price Ceiling

A legally established maximum price that can be charged for a good or service.

Minimum Wage Law

Legislation that sets the lowest hourly rate that can be paid to workers, aimed at ensuring a minimum standard of living for employees.

Demand Schedule

A diagram indicating the volume of a good or service buyers intend and can afford to buy across a range of prices.

Demand Increased

A situation where consumers are willing and able to purchase more of a good or service at any given price level, often leading to higher prices.