Use the Following to Answer Questions

question 14

Multiple Choice

Use the following to answer questions :
-(Table: Competitive Market for Good Z) Look at the table Competitive Market for Good Z. If the supply curve for good Z is linear, it can be expressed as:

• A)Q_s = 3P.
• B)Q_s = 50 - 2P.
• C)Q_s = 100 - 2P.
• D)Q_s = Q_d

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Definitions:

Marshall Plan

A U.S.-initiated program providing massive financial aid to Western Europe after World War II to rebuild economies and prevent the spread of communism.

Communism

A political and economic ideology that advocates for a classless society in which all property is publicly owned, and each person works and is paid according to their abilities and needs.

European Economic Community

An economic organization that aimed to bring about economic integration among its member states, a precursor to the European Union.

Trade Barriers

Measures implemented by countries to regulate or restrict trade with other countries, including tariffs, quotas, and import bans, typically aimed at protecting domestic industries.