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

question 275

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 $8, 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 supply in the market.
• D) decrease because there is an excess supply in the market.

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Definitions:

Inexpensive

Referring to something that does not cost a lot of money; affordable.

Online

Pertaining to activities, interactions, or services that are conducted or available through the internet.

Life Values

Fundamental beliefs or principles that guide an individual's behavior and decision-making process.

General Values

A broad range of values besides those associated with job success.