-Refer to the Graph Above to Answer This Question

question 145

Multiple Choice

-Refer to the graph above to answer this question.What would be the new equilibrium price and quantity if demand increased by 60?

• A)$1,600 and 120.
• B)$1,400 and 140.
• C)$1,200 and 160.
• D)$1,000 and 140.
• E)$1,000 and 180.

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Definitions:

Exact Interest

This refers to the method of calculating interest based on a 365-day year or actual number of days in a month, providing a precise interest calculation.

Simple Interest

Interest calculated only on the principal amount, or on that portion of the principal amount which remains unpaid.

Exact Interest

A redefined term referring to the method of calculating interest based on a 365-day year, highlighting the precision in financial computations.

365-Day Year

A calendar year consisting of 365 days, not accounting for leap years which have 366 days.