Assume There Are Three Hardware Stores in the Market for Hammers

question 8

Multiple Choice

Assume there are three hardware stores in the market for hammers and that all three markets produce a single,standard model hammer.House Depot is an enormous mass producer of hammers and can offer a hammer for sale for a minimum of $7.Lace Hardware is a franchise and can offer the hammer for sale for a minimum of $10.Bob's Hardware store is a family owned and operated,independent hardware store and can offer hammers at a minimum price of $13.
Given the scenario described,if the market price of hammers was $10,then:

• A)only House Depot would gain surplus by supplying hammers to the market.
• B)only House Depot and Lace Hardware would gain surplus by supplying hammers to the market.
• C)House Depot,Lace Hardware,and Bob's Hardware would all supply hammers to the market,but Bob's would lose surplus.
• D)only House Depot and Bob's Hardware would supply hammers to the market.

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Definitions:

Unlatch

A term used in programmable logic control programming that refers to a command or instruction to turn off or reset a previously set (latched) condition.

Retentive Outputs

In PLC systems, retentive outputs retain their state even after the controller is powered off or resets, allowing for the continuation of processes without data loss.

Nonretentive Outputs

Outputs in a control system that do not retain their state after a power loss or reset, returning to their default state.

Label (LBL) Instruction

The Label (LBL) Instruction is used in programming to define a point or position in the code that can be referred to or jumped to by other parts of the program.