The Figure Given Below Shows the Demand and Supply Curves

question 67

Multiple Choice

The figure given below shows the demand and supply curves of automobiles.Figure 13.3
In the figure,
D: Demand curve of automobiles
S: Supply of automobiles prior to the tax
S+t: Supply of automobiles after the tax

-According to Figure 13.3, the market attains equilibrium before the tax is imposed at:

• A) point d.
• B) point a.
• C) point b.
• D) point c.
• E) point e.

---

Definitions:

Highest Stage

In various developmental theories, this term signifies the ultimate phase of development, characterized by the attainment of peak capabilities or understanding.

Mutual Give-and-take

A reciprocal relationship or exchange where both parties benefit from giving something to the other.

Perspective

The capacity to view things in their true relations or relative importance, often considering different viewpoints or angles.

Rules

Explicit or implicit principles or guidelines that govern behavior in various contexts and systems.