Suppose the Demand and Supply Curves for Good X Are

question 27

Multiple Choice

Suppose the demand and supply curves for good X are both linear.The demand price for the first unit of X is $28,and the supply price for the first unit of X is $6.If the equilibrium price for good X is $16 and the equilibrium quantity of X is 24,000 units,then total consumer surplus is $________,total producer surplus is $_________,and total social surplus is $_____________.

• A)$28; $6; $16
• B)$144,000; $120,000; $264,000
• C)$120,000; $144,000; $264,000
• D)$672,000; $144,000; $384,000
• E)$144,000; $672,000; $384,000

Comprehend the concept of enlightened self-interest and its relevance to ethical business practices.

Distinguish between different business models in the context of ethical behavior and social responsibility.

Analyze the role of corporate social responsibility in business decisions and actions.

Define the practice of whistle-blowing and its importance in maintaining ethical standards.

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Definitions:

Proprietary Fund

A type of government fund created to manage activities that are similar to those found in the private sector, where services are provided to the public for a fee.

Statement of Net Position

A financial statement that displays an organization's assets, liabilities, and net position at a specific point in time, highlighting its financial health.

Statement of Revenue

A financial statement that shows the income earned by a company over a certain period of time.

Fiscal Year

A one-year period used for financial reporting and budgeting, which may or may not align with the calendar year.