Use the Figure Below to Answer the Following Question(s)

question 186

Multiple Choice

Use the figure below to answer the following question(s) .
Figure 3-9

In Figure 3-9, if D and S represent the demand and supply for gasoline, what is the equilibrium price and quantity?

• A) price, $1; quantity, 20
• B) price, $2; quantity, 30
• C) price, $3; quantity, 40
• D) price, $4; quantity, 50

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Definitions:

Financial Means

The monetary resources available to an individual, organization, or country.

Skill Sets

A combination of abilities, qualifications, and experiences that an individual possesses, making them suitable for a particular job or task.

Labour Standards Legislation

Laws and regulations that establish the minimum requirements for working conditions, such as hours of work, minimum wage, and safety standards.

Pay Equity Legislation

Laws and regulations designed to eliminate the gender pay gap by ensuring that men and women receive equal pay for work of equal value.