Table 17-8

question 172

Multiple Choice

Table 17-8.For a certain small town,the table shows the demand schedule for water.Assume the marginal cost of supplying water is constant at $4 per bottle.

-Refer to Table 17-8.If there were only one supplier of water,what would be the price and quantity?

• A) The price would be $7 per gallon and the quantity would be 300 gallons.
• B) The price would be $6 per gallon and the quantity would be 400 gallons.
• C) The price would be $5 per gallon and the quantity would be 500 gallons.
• D) The price would be $4 per gallon and the quantity would be 600 gallons.

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Definitions:

Atkinson-Shiffrin

A model of memory proposed by Richard Atkinson and Richard Shiffrin that describes it in terms of three stores: sensory memory, short-term memory, and long-term memory.

Activated Memory

Memory that is readily accessible and currently in use.

Limited-Capacity

Refers to the finite amount of information or cognitive resource that an individual can process at one time.

Atkinson And Shiffrin

A model of memory proposed by Richard Atkinson and Richard Shiffrin in 1968, describing three stages of memory: sensory memory, short-term memory, and long-term memory.