Use the Following to Answer Questions

question 64

Multiple Choice

Use the following to answer questions:
Figure: Demand and Supply
-(Figure: Demand and Supply) Refer to the figure. Which statement is TRUE?

• A) The gains from trade are maximized at 20 units of output.
• B) At 16 units of output, there are unexploited gains from trade.
• C) Buyers are willing to pay $20 for the 16th unit of output and it costs sellers $60 to produce that unit.
• D) A free market is likely to produce less than 12 units of output.

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Definitions:

Corporate Jet

A private aircraft owned or leased by a company for the transport of its executives, employees, or guests.

Equal Employment Opportunity Commission

A federal agency in the United States responsible for enforcing federal laws that make it illegal to discriminate against a job applicant or an employee because of the person's race, color, religion, sex, national origin, age, disability, or genetic information.

Employer Guidelines

A set of directions or rules provided by an employer to outline expected behaviors and procedures within the workplace.

National Origin

Refers to the country or geographic region where an individual was born or where their ancestors came from, often considered in anti-discrimination policies.