Suppose That King Kanuta Demands That Each of His Subjects

question 11

Multiple Choice

Suppose that King Kanuta demands that each of his subjects give him 4 coconuts for every coconut that they consume.The king puts all of the coconuts that he collects in a large pile and burns them.The supply of coconuts is given by S(p_s) = 100p_s, where p_s is the price received by suppliers.The demand for coconuts by the king's subjects is given by D(p_d) = 10,400 - 100p_d, where p_d is the price paid by consumers.In equilibrium, the price received by suppliers will be

• A)$20.
• B)$52.
• C)$30.
• D)$260.
• E)None of the above.

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Definitions:

Delegation

The assignment of responsibility and authority to someone else while retaining ultimate accountability.

Accountable

Being responsible for one's actions and the outcomes of those actions, often involving an obligation to report, explain, or justify them.

Good Management

Refers to the process of effectively planning, organizing, leading, and controlling resources and tasks to achieve organizational goals.

Learning

A process of acquiring new understanding, knowledge, behaviors, skills, values, attitudes, and preferences.