The Difference Between the Demand Price and the Supply Price

question 17

Multiple Choice

The difference between the demand price and the supply price at the quota limit is:

• A)the quota rent.
• B)the rent received by landlords who own rent-controlled apartments.
• C)the opportunity cost of using or buying a good,subject to an import quota.
• D)usually large enough to cause a surplus.

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Definitions:

Total Income

The sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings received by individuals or businesses in a given period.

1968

A year marked by significant global events, including political protests, movements for civil rights, and major shifts in culture.

2008

Refers to the year marked by significant global events, including the financial crisis that led to a severe recession in many countries.

Training

The process of enhancing skills, knowledge, and competencies, enabling individuals to perform specific tasks or jobs effectively.