Use the Following to Answer Questions

question 186

Multiple Choice

Use the following to answer questions:
Figure: Slave Redemption
-Figure: Slave Redemption with Perfectly Elastic Supply Refer to the figure. Assume the graph illustrates the Sudanese slave trade. If the supply curve is perfectly elastic as it is in the graph, a rise in the demand for slaves (from D₁ to D₂) causes:

• A) the number of people in slavery to fall to zero after the redemption program.
• B) the price of slaves to remain unchanged.
• C) 900 additional people to enter slavery temporarily before they are released.
• D) the supply of slaves in Sudan to decrease.

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Definitions:

Philanthropic

Relating to the desire to promote the welfare of others, usually expressed especially by the generous donation of money to good causes.

Event Outcome Forecasts

Predictions about the results or consequences of events in the future.

Time Series Forecasts

Predictive analyses that utilize historical data to project future trends, patterns, or values over time.

Event Scope Forecasts

Projected analyses that predict the extent or magnitude of events, often used in planning and risk assessment.