The Data Shows the Demand and Supply for Sugar

question 135

Multiple Choice

The data shows the demand and supply for sugar:
quantity of kilograms (in thousand per week)

-Refer to the information above to answer this question.How many kilograms of sugar would be sold in the market if the government's price floor is set at $3 per kilogram?

• A)30,000 kilograms.
• B)40,000 kilograms.
• C)50,000 kilograms.
• D)60,000 kilograms.
• E)70,000 kilograms.

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Definitions:

Per Capita

A statistical measure that represents the average per person, commonly used to compare economic indicators such as income or GDP among different populations.

Real GDP

Measures the value of all goods and services produced by an economy, adjusted for inflation, to reflect the actual economic output.

National Income

The total value of all goods and services produced by a country's economy over a specific period, after adjustments for income from foreign investments and payments to other countries.

Corporate Profits

The excess of revenues over expenses for corporations, indicating the financial health and performance of companies.