-Refer to the Above Information to Answer This Question

question 81

Multiple Choice

-Refer to the above information to answer this question.What is the value of equilibrium income in this economy?

• A)$3,000.
• B)$4,000.
• C)$6,000.
• D)$1,050.
• E)$1,200.

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Definitions:

Negligence

The failure to exercise a level of care that a reasonably prudent person would under similar circumstances, leading to harm or damage.

Damages

Compensation or monetary award given to a party in a legal action for injury or loss caused by the wrongdoing of another.

Socially Acceptable Behaviour

Actions or conduct that are considered appropriate and respectful within a society or group.

Reasonably Prudent Person

A legal standard that represents how an average person would responsibly act in certain circumstances.