Use the Table Below to Answer the Following Questions

question 120

Multiple Choice

Use the table below to answer the following questions.
Table 3.5.1
The Market for Car-Seat Heaters

-Refer to Table 3.5.1.Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns.As a result,demand decreases by 100 heaters at each price.Simultaneously,the cost of production rises,and supply decreases by 100 heaters at each price.The new equilibrium price is $________ and the new equilibrium quantity is ________ heaters per month.

• A)70;450
• B)70;350
• C)50;450
• D)50;350
• E)60;300

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Definitions:

Cohesive

Possessing the ability to stick together or form a unified whole, often referring to the unity or bond within a group or organization.

Group Think

A phenomenon where a group's desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Individual

Pertaining to a single person or thing, separate from others, emphasizing the importance of personal identity.

Agenda

A list or plan outlining items to be discussed or acted upon in a meeting or gathering.