-Using the Data in the Above Table, the Equilibrium Quantity

question 293

Multiple Choice

$\begin{array}{|l|l|l|}\hline\begin{array}{l}\text { Price } \\\text { (dollars per } \\\text { cellular } \\\text { phone) }\end{array} & \begin{array}{l}\text { Quantity } \\\text { demanded } \\\text { (thousands) }\end{array} & \begin{array}{l}\text { Quantity } \\\text { supplied } \\\text { (thousands) }\end{array} \\\hline 100 & 50 & 100 \\\hline 80 & 55 & 80 \\\hline 50 & 60 & 60 \\\hline 20 & 100 & 40 \\\hline\end{array}$
-Using the data in the above table, the equilibrium quantity and equilibrium price for a cellular telephone is

• A) 40 thousand and $20.
• B) 50 thousand and $100.
• C) 80 thousand and $80.
• D) 60 thousand and $50.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.