Exhibit 17-7 -Suppose That the World Price in Exhibit 17-7 Is $2.00

question 113

Multiple Choice

Exhibit 17-7
-Suppose that the world price in Exhibit 17-7 is $2.00 per unit.What is the smallest import quota that would not affect the level of imports in this country?

• A)$3.00
• B)$2.00
• C)50 units per month
• D)100 units per month
• E)150 units per month

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Definitions:

Extrinsic

Not inherent or essential, coming from the outside, or external to something.

Heisenberg Uncertainty Principle

A fundamental theory in quantum mechanics stating that it is impossible to simultaneously determine both the position and momentum of a particle with absolute precision.

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The ability to make choices based on reasoning and logical deliberation, free from irrational forces or constraints.

Emotional Freedom

The ability to consciously choose how one responds to emotions.