Use the Figure Below to Answer the Following Questions

question 23

Multiple Choice

Use the figure below to answer the following questions. Figure 3.5.2
Original equilibrium at 1.
-Refer to Figure 3.5.2,which represents the market for beans.If the price of peas,a substitute for beans and a substitute in production,rises,what is the new beans equilibrium,ceteris paribus?

• A)2
• B)3
• C)9
• D)4

---

Definitions:

Business Analysis

The practice of identifying business needs and determining solutions to business problems through analysis and modification of processes.

Commercialization

The process of bringing a new product or service to the market, including production, distribution, marketing, and sales.

Full-Scale Production

The manufacturing process at its maximum capacity, producing the highest quantity of goods to meet demand.

Marketing Dashboard

A visual display of the most important marketing metrics and KPIs, designed to give an immediate overview of marketing performance and insights for decision-making.