Figure 9-8

question 189

Multiple Choice

Figure 9-8.On the diagram below,Q represents the quantity of cars and P represents the price of cars.
-Refer to Figure 9-8.The price corresponding to the horizontal dotted line on the graph represents the price of cars

• A)after trade is allowed.
• B)before trade is allowed.
• C)that maximizes total surplus when trade is allowed.
• D)that minimizes the well-being of domestic car producers when trade is allowed.

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Definitions:

Referential Influence

The impact that the opinion of others has on an individual's choice or behavior, typically within a social context.

Informational Influence

The effect that the knowledge, opinions, or behaviors of others can have on one’s own responses, often leading to conformity due to the desire to be correct.

Expert Power

Expert Power is the ability to influence others' attitudes or behaviors based on the perception of one's knowledge, expertise, or experience in a specific area.

Information Power

The influence or control over others that is gained through access to or possession of information.