Scenario 9-2 • for a Small Country Called Boxland,the Equation of the of the Domestic

question 265

Multiple Choice

Scenario 9-2
• For a small country called Boxland,the equation of the domestic demand curve for
cardboard is ,
where represents the domestic quantity of cardboard demanded,in tons,and represents the price of a ton of cardboard.
• For Boxland,the equation of the domestic supply curve for cardboard is ,
where represents the domestic quantity of cardboard supplied,in tons,and again
represents the price of a ton of cardboard.
-Refer to Scenario 9-2.If Boxland prohibits international trade in cardboard,then the equilibrium price of a ton of cardboard is

• A)$36 and the equilibrium quantity of cardboard is 74 tons.
• B)$44 and the equilibrium quantity of cardboard is 88 tons.
• C)$52 and the equilibrium quantity of cardboard is 96 tons.
• D)$60 and the equilibrium quantity of cardboard is 100 tons.

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Definitions:

Scientific Management

A management theory that applies scientific methods to analyze and optimize workflows and efficiency in the workplace.

Frederick W. Taylor

An American mechanical engineer who sought to improve industrial efficiency and is considered the father of scientific management.

Workplace

The physical or virtual location where people perform their job duties.

Social Organization

The structured arrangement of societal institutions and groups, shaping how members of a society interact and function together.