Use the Table Below to Choose the Correct Answer

question 97

Multiple Choice

Use the table below to choose the correct answer. The table is a schedule of the supply and demand for coffee (both given in thousands of pounds per month) . The equilibrium market price of coffee would be

• A)$6 per pound.
• B)$8 per pound.
• C)$10 per pound.
• D)$12 per pound.

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Definitions:

High Tariffs

Elevated taxes imposed on imported goods, aimed at protecting domestic industries from foreign competition.

Manufacturing Plants

Facilities where goods are produced in large quantities through the combination of workers, machinery, and processes.

Local Market

A market that exists within a specific geographical area, often characterized by face-to-face transactions and the availability of locally produced goods.

Abdominopelvic Cavity

A body cavity consisting of two connected spaces, the abdominal cavity and the pelvic cavity, housing major organs of digestion, reproduction, and excretion.