Use the table below to answer the following questions.
Table 3.5.1
The Market for Car-Seat Heaters
-Refer to Table 3.5.1.Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns.As a result,demand decreases by 100 heaters at each price.Simultaneously,the cost of production rises,and supply decreases by 100 heaters at each price.The new equilibrium price is $________ and the new equilibrium quantity is ________ heaters per month.
Definitions:
Financial Resources
Economic capital or funds available to a business or individual for the purpose of investment, operational needs, or growth.
Asian Market
A regional market comprising various countries in Asia, known for its dynamic growth, diverse cultures, and significant economic influence globally.
Minimize Risk
Strategic actions aimed at reducing the likelihood of unfavorable outcomes or potential losses in business operations or decisions.
Cultural Nuances
Subtle variations in culture that may affect behaviors, communication, and perceptions, often requiring deep understanding and sensitivity.
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