Use the Figure Below to Answer the Following Questions

question 143

Multiple Choice

Use the figure below to answer the following questions.
Table 3.5.2
Demand and Supply Schedules for Cups of Coffee each day at CoolU

-Refer to Table 3.5.2.A premature frost destroys half the coffee trees and the supply of coffee is cut in half.The new equilibrium price is $________ and the new equilibrium quantity is ________ cups a day.

• A)1.30;600
• B)1.50;400
• C)0.90;400
• D)1.20;700
• E)1.30;500

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Definitions:

Competitive Pricing

A pricing strategy where businesses set prices based on the prices of similar products offered by competitors in the market.

Health Care Industry

A sector that provides medical services, manufactures medical equipment or drugs, provides medical insurance, or facilitates the provision of healthcare to patients.

Doctors' Unions

Organizations that represent the interests of physicians, aiming to improve working conditions and negotiate terms of employment.

Medical Education

A field of study and training that prepares individuals to practice as medical professionals, including courses, clinical rotations, and exams.