Use the Table Below to Answer the Following Questions

question 20

Multiple Choice

Use the table below to answer the following questions.
Table 3.5.3
Demand and supply schedules for designer sport t-shirts at CoolU

-Refer to Table 3.5.3.A new store opens up on the edge of campus,Great Wild North Sportswear,which has the capacity to do as much business as all the existing businesses.The quantity of t-shirts supplied doubles at each price.In addition,in a television interview,Joe Cool shows off his designer sport t-shirt,setting off a new craze that doubles business at the local sportswear establishments.The quantity of t-shirts demanded doubles at each price.The new equilibrium price is $________ and the new equilibrium quantity is ________ t-shirts per month.

• A)8;400
• B)8;200
• C)3;400
• D)12;240
• E)16;400

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Definitions:

Guideline

A rule or piece of advice that suggests how something should be done or what actions are most likely to achieve a specific goal.

Policy

A deliberate system of principles to guide decisions and achieve rational outcomes.

Activity

Any action or task undertaken by individuals or groups, often aimed at achieving a specific goal or outcome.

Centralization

Refers to the concentration of decision-making authority at the top levels of an organizational hierarchy.