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.
Definitions:
Channel Conflict
A situation where channels for the same product or service compete with each other, potentially reducing profitability for one or all channels involved.
Exclusive Distribution
A distribution strategy where a product is sold exclusively through a specific retailer or distributor.
Distribution Density
The measure of how widely and closely a product or service is made available to potential customers through various retail outlets or distribution channels.
Specified Geographical Area
A distinct region or zone designated for certain activities, operations, or jurisdictional purposes.
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