-Refer to the Diagram Above

question 205

Multiple Choice

-Refer to the diagram above.If the price in this market is initially $3.00 and it is then allowed to move to the equilibrium,does the quantity supplied increase or decrease,and by how much?

• A) The quantity supplied decreases by 40 units.
• B) The quantity supplied decreases by 20 units.
• C) The quantity supplied remains unchanged.
• D) The quantity supplied increases by 20 units.
• E) The quantity supplied increases by 40 units.

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Definitions:

Smog

A type of air pollution characterized by a mixture of smoke and fog, often resulting from industrial emissions and vehicle exhaust.

Stratospheric Ozone

A layer of ozone molecules located in the Earth's stratosphere that absorbs and protects living organisms from the harmful effects of the sun's ultraviolet radiation.

Ultraviolet Radiation

Electromagnetic radiation with a wavelength shorter than that of visible light, but longer than X-rays, which can have effects on the skin such as sunburns and vitamin D synthesis.

Gamma Radiation

Electromagnetic radiation of high frequency and thus high energy, often emitted by radioactive materials.