Use the Table Below to Answer the Following Questions

question 80

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.The new equilibrium price is $________ and the new equilibrium quantity is ________ t-shirts per month.

• A)8;400
• B)3;300
• C)0;400
• D)16;200
• E)4;400

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Definitions:

Unclear Job

Refers to a position or role within an organization that lacks clear definition, objectives, or responsibilities, leading to confusion and inefficiency.

Excess Capacity

A situation in which a firm is producing at a lower level of output than it has the potential to produce due to lack of demand.

Welfare-Maximizing

An economic or policy goal aimed at achieving the highest possible level of welfare for the population, taking into account factors such as distribution of wealth, health, and overall quality of life.

Competitively

Refers to a market condition where businesses or individuals vie against each other to gain economic advantage or win consumers' favor.