Use the Following to Answer Questions

question 208

Multiple Choice

Use the following to answer questions:
Figure: Price and Quantity 3
-(Figure: Price and Quantity 3) At a quantity of 80 units in the figure, it cost sellers ______ to produce the last unit, but buyers value this last unit at ______.

• A) $80; $50
• B) $50; $20
• C) $20; $80
• D) $80; $20

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Definitions:

Securities Exchange Act

A U.S. law enacted in 1934 to govern the trading of securities, such as stocks and bonds, to protect investors and maintain fair and orderly markets.

Criminal Liability

The legal responsibility for actions that violate criminal law, potentially leading to prosecution and punishment.

Sarbanes-Oxley Act

A U.S. federal law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.

Public Company Accounting Oversight Board

A non-profit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate, and independent audit reports.