Suppose That King Kanuta from Problem 11 Demands That Each

question 2

Multiple Choice

Suppose that King Kanuta from Problem 11 demands that each of his subjects give him 2 coconuts for every coconut that they consume. The king puts all of the coconuts that he collects in a large pile and burns them. The supply of coconuts is given by S(p_s) = 100p_s, where p_s is the price received by suppliers. The demand for coconuts by the king's subjects is given by D(p_d) = 2,666.67 - 100p_d, where p_d is the price paid by consumers. In equilibrium, the price received by suppliers will be

• A) $8.
• B) $12.
• C) $13.33.
• D) $40.
• E) None of the above.

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Independent firms that offer policies to individuals or entities to cover various risks in exchange for premium payments.

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The expenses associated with medical services, treatments, medications, and hospital care provided to individuals.

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The organization, structure, and systems that govern a community, state, or nation, responsible for regulating and managing public affairs.

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Independent companies that provide individuals and entities coverage against financial losses in exchange for premium payments.