Table 4-6 -Refer to Table 4-6.The Equations Above Describe the Demand and Describe

question 38

Multiple Choice

Table 4-6

-Refer to Table 4-6.The equations above describe the demand and supply for Chef Ernie's Sushi-on-a-Stick.The equilibrium price and quantity for Chef Ernie's sushi are $60 and 20 thousand units.What is the value of economic surplus in this market?

• A)$300 thousand
• B)$600 thousand
• C)$1,200 thousand
• D)$1,600 thousand

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Definitions:

Motivated Employees

Workers who are enthusiastic and committed to their tasks, often leading to higher productivity and job satisfaction.

Maslow's Hierarchy

A theory in psychology proposing that people are motivated to achieve certain needs and that some needs take precedence over others, forming a five-tier model of human needs.

Self-actualization

The realization or fulfillment of one's talents and potentialities, especially considered as a drive or need present in everyone.

Physiological

Physiological pertains to the functions and processes of living organisms and their parts, including the physical and chemical processes contributing to life.