Use the Figure Below to Answer the Following Questions

question 59

Multiple Choice

Use the figure below to answer the following questions.
Table 3.5.2
-Refer to Table 3.5.2.A premature frost destroys half the coffee trees and the supply of coffee is cut in half.The new equilibrium price is $_______ and the new equilibrium quantity is _______ cups a day.

• A)1.20; 700
• B)0.90; 400
• C)1.30; 600
• D)1.30; 500
• E)1.50; 400

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Definitions:

Strategic

refers to the careful planning and management of resources to achieve a specific goal or to gain an advantage.

Fluid Intelligence

The capacity to reason quickly and think abstractly, enabling problem solving and learning in novel situations.

Selective Optimization With Compensation

The theory, developed by Paul and Margaret Baltes, that people try to maintain a balance in their lives by looking for the best way to compensate for physical and cognitive losses, and to become more proficient in activities they can already do well.

Practical Intelligence

The skill of overcoming routine problems by leveraging insights obtained from previous experiences rather than from theoretical or academic learning.