$\text { Demand and Supply Schedules for Chocolate Bars }$

question 106

Multiple Choice

$\text { Demand and Supply Schedules for Chocolate Bars }$
$\begin{array}{|c|c|c|}\hline \begin{array}{c}\text { Price } \\(\$) \end{array} & \begin{array}{c}\text { Quantity Demanded } \\\text { (thousandsperweek) }\end{array} & \begin{array}{c}\text { Quantity Supplied } \\\text { (thousands per week) }\end{array} \\\hline 2.00 & 1500 & 2100 \\\hline 1.80 & 1600 & 2050 \\\hline 1.60 & 1700 & 2000 \\\hline 1.40 & 1800 & 1950 \\\hline 1.20 & 1900 & 1900 \\\hline 1.00 & 2000 & 1850 \\\hline 0.80 & 2100 & 1800 \\\hline 0.60 & 2200 & 1750 \\\hline 0.40 & 2300 & 1700 \\\hline\end{array}$
$\text { TABLE 5-1 }$
-Refer to Table 5- 1. Suppose that as a public health measure the government wants to reduce the number of chocolate bars consumed by children. If the government imposes a price of $1.60 per chocolate bar, how many fewer chocolate bars will be consumed each week, relative to the competitive equilibrium?

• A) 200
• B) 300
• C) 1800
• D) 1700
• E) 2000

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Definitions:

Tangible Asset

Physical assets or property owned by a person or company, such as buildings, machinery, and vehicles.

Physical Existence

The tangible presence of an entity or an asset, capable of being seen or touched.

Capital Expenditures

The costs of acquiring fixed assets, adding to a fixed asset, improving a fixed asset, or extending a fixed asset’s useful life.

Fixed Asset

Long-term tangible property that a company owns and uses in its operations to generate income, such as buildings, machinery, and equipment, which are not expected to be consumed or converted into cash within a year.