The Table Below Displays Hypothetical Demand and Supply Schedules for the Market

question 109

Multiple Choice

The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada. TABLE 3-4 Refer to Table 3-4.Which of the following statements best describes the change in equilibrium price and quantity in this market between Year 1 and Year 2?

• A)The demand curve has shifted to the left,the supply curve has shifted to the right; as a result equilibrium price is lower and equilibrium quantity is higher.
• B)The demand curve has shifted to the left,the supply curve has shifted to the left; as a result equilibrium price is higher and equilibrium quantity is lower.
• C)The demand curve has shifted to the right,the supply curve has shifted to the left; as a result equilibrium price is higher and equilibrium quantity is lower.
• D)The demand curve has shifted to the left,the supply curve has shifted to the right; as a result equilibrium price is higher and equilibrium quantity is lower.
• E)There is no change in equilibrium price or quantity from Year 1 to Year 2.

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Definitions:

Centromere

The region on a chromosome where the two sister chromatids are joined and where the spindle fibers attach during cell division.

Chromatids

Each of the two threadlike strands into which a chromosome divides longitudinally during cell division. Each contains a double helix of DNA.

Plant Cell Division

The process by which a plant cell splits into two daughter cells, typically involving phases such as cytokinesis following mitosis or meiosis.

Cell Plate

The structure formed during plant cell cytokinesis, which eventually develops into a new cell wall, separating the two daughter cells.