Figure 4-4 -Refer to Figure 4-4.The Figure Above Represents the Market for Represents

question 70

Multiple Choice

Figure 4-4

-Refer to Figure 4-4.The figure above represents the market for pecans.Assume that this is a competitive market.If the price of pecans is $3,

• A)economic surplus is maximized.
• B)not enough consumers want to buy pecans.
• C)the quantity supplied is less than the economically efficient quantity.
• D)the quantity supplied is economically efficient but the quantity demanded is economically inefficient.

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Definitions:

Chinese Exclusion Act

A U.S. federal law signed in 1882 that prohibited the immigration of Chinese laborers for ten years, the first law implementing immigration controls based on ethnicity.

Nations

Large groups of people united by common descent, history, culture, or language inhabiting a particular country or territory.

Chinese Immigrants

Individuals from China who have migrated to various parts of the world, often facing significant challenges and discrimination, especially noted in the 19th and early 20th centuries in the United States.

Persecutions

Systematic mistreatment of an individual or group by another group, often due to political, religious, or ethnic differences.