The Following Figure Shows the Demand Curve, D, and Supply

question 227

Multiple Choice

The following figure shows the demand curve, D, and supply curve, S, of ballpoint pens in Lithasia. The world price of pens is $2.

-Refer to the figure above.What is the domestic price of pens in Lithasia?

• A) $1
• B) $2
• C) $3
• D) $6

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Definitions:

Developmental Perspective

An approach in psychology and other disciplines that focuses on how individuals grow and change throughout their lifespan, including physical, cognitive, and social development.

Observer Bias

A form of research error that occurs when an observer's expectations or personal beliefs influence their interpretation of experimental outcomes.

Ecological-Systems Approach

A perspective on human development that considers all of the influences from the various contexts of development. (Later renamed bioecological theory.)

Bronfenbrenner

A psychologist known for his ecological systems theory, which considers the complex interrelations between individual development and environmental factors.