Refer to the Graph Shown

question 8

Multiple Choice

Refer to the graph shown. If hamburgers are produced by a perfectly competitive industry with a market demand D, in long-run equilibrium the price will be:

• A)$6, and 100 will be sold.
• B)$4, and 200 will be sold.
• C)$5, and 150 will be sold.
• D)$4, and 100 will be sold.

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Definitions:

Distributor

An intermediary entity in the supply chain that purchases products from manufacturers or wholesalers and sells them to retailers or directly to consumers.

Push Processes

A strategy in manufacturing and supply chain management where products are produced or ordered in anticipation of demand rather than in response to it.

Speculative Processes

Operations carried out with the objective of making a profit from predicted future price movements rather than from the inherent value of the goods or services.

Reactive Processes

Methods or actions taken in response to events or situations rather than planning or anticipating them in advance.