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:

Intragroup Transfers

Transactions of goods, services, or financial assets between divisions or entities within the same group or company.

Retained Earnings

The portion of net income that is retained by a company rather than distributed to its shareholders as dividends.

Current Period

Refers to the specific duration of time for which financial activities are reported and analyzed, usually a fiscal quarter or year.