Refer to the Information Provided in Table 3 -Refer to Table 3

question 3

Multiple Choice

Refer to the information provided in Table 3.2 below to answer the question(s) that follow.
Table 3.2
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Price per } \\\text { Cheeseburger }\end{array} & \begin{array} { c } \text { Quantity Demanded } \\\text { (Cheeseburgers per } \\\text { Month) }\end{array} & \begin{array} { c } \text { Quantity Supplied } \\\text { (Cheeseburgers per } \\\text { Month) }\end{array} \\\hline \$ 5 & 1,500 & 500 \\\hline 6 & 1,200 & 700 \\\hline 7 & 900 & 900 \\\hline 8 & 600 & 1,100 \\\hline 9 & 300 & 1,300 \\\hline\end{array}$$
-Refer to Table 3.2. If the price per cheeseburger is $5, the price will

• A) remain constant because the market is in equilibrium.
• B) decrease because there is an excess demand in the market.
• C) increase because there is an excess demand in the market.
• D) decrease because there is an excess supply in the market.

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Definitions:

Product Differentiation

A marketing strategy that involves distinguishing a product or service from competitors in ways that appeal to customers.

Financial Controller

A senior-level executive who manages and oversees a company's financial operations, including accounting practices, budgeting, and financial reporting.

Australian Accounting Standards

Financial reporting regulations in Australia designed to ensure transparency and consistency across financial documents.

Management Accounting Information

Financial data and reports that are used by internal management for decision-making, planning, and control purposes.