The Table Given Below Shows the Quantity Supplied and the Quantity

question 55

Multiple Choice

The table given below shows the quantity supplied and the quantity demanded for a good at different prices.If the price of the good described in the table given below is $1.50,then:
$$\begin{array}{l}\text { Table } 4.1\\\begin{array} { | r | r | r | } \hline { \text { Price(\$) } } & { \begin{array} { l } \text { Quantity } \\\text { demanded }\end{array} } & { \begin{array} { l } \text { Quantity } \\\text { supplied }\end{array} } \\\hline 1 & 100 & 10 \\\hline 1.2 & 90 & 30 \\\hline 1.4 & 80 & 50 \\\hline 1.5 & 70 & 70 \\\hline 1.6 & 60 & 90 \\\hline\end{array}\end{array}$$

• A)there is a shortage in the market.
• B)there is a surplus in the market.
• C)the market is in equilibrium.
• D)the supply of the good increases by 30 units.
• E)the demand for the good increases by 30 units.

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Definitions:

Compromising Style

A conflict resolution approach where parties involved each give up something to reach a mutually acceptable solution.

Assertiveness

The quality of being self-assured and confident without being aggressive in defending one's rights or opinions.

Cooperation

The action or process of working together towards common goals or interests, often requiring compromise, communication, and shared responsibilities.

Long Term Cohesion

The sustained unity and togetherness of a group, organization, or team over an extended period.