Refer to the Information Provided in Figure 4

question 122

Multiple Choice

Refer to the information provided in Figure 4.3 below to answer the question(s) that follow. Figure 4.3
-Refer to Figure 4.3. If the government will not allow retailers to charge less than $0.50 for a pencil, which of the following will happen?

• A) Demand must eventually increase so that the market will come into equilibrium at a price of $0.50.
• B) Supply must eventually decrease so that the market will come into equilibrium at a price of $0.50.
• C) Retailers will have an excess supply of pencils.
• D) The market will be in equilibrium at a price of $0.50.

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Definitions:

Empowerment

The process of giving individuals or groups more control, authority, and responsibility regarding their own lives or work.

Delegation

The assignment of formal authority and responsibility for accomplishing a specific task to another person.

Specific Task

Refers to a particular piece of work or activity that is assigned or required to be done.

Critical Problems

Significant challenges or issues that require immediate attention and resolution.