The Figure Below Shows the Supply and Demand Curves for Jeans

question 132

Multiple Choice

The figure below shows the supply and demand curves for jeans in Smallville. The equilibrium price will NOT lead to the largest possible total economic surplus if:

• A)jeans are purchased by consumers with reservation prices greater than $40.
• B)the market for jeans is perfectly competitive.
• C)the production of jeans generates air pollution.
• D)there are diminishing returns in the production of jeans.

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Definitions:

Basic Interest Scales

A section of the Strong which measures clusters of interest in 30 broad areas related to the General Occupational Themes.

Personal Style Scales

Assessment tools designed to measure an individual's preferences, attitudes, or behaviors in various contexts.

Trait-and-Factor Theory

A theory of career development that matches an individual's traits and factors, such as abilities and interests, with a suitable career.

Knowledge of Jobs

Understanding the specific skills, duties, and requirements associated with different professions or occupations.