(See Problem 7

question 13

Multiple Choice

(See Problem 7.) If the number of persons who attend the club meeting this week is X, then the number of people who will attend next week is 30 + 0.70X. What is a long-run equilibrium attendance for this club?

• A) 42.86
• B) 60
• C) 100
• D) 30
• E) 70

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Definitions:

Interest Groups

Organizations that attempt to influence public policy and government decisions in favor of their specific interests or causes.

Tax Reform Organizations

Groups that advocate for changes in tax policy and legislation to promote fairness, efficiency, and economic growth.

Labor Unions

Organized associations of workers formed to protect and advance their members' interests in terms of wages, benefits, and working conditions.

Public Pressure

The influence exerted by the general populace or specific segments of the public on decision-makers, often through protests, campaigns, or public opinion, to effect policy changes or social reforms.