Use the Following to Answer Questions: Table: Equilibrium Price, Quantity

question 103

Multiple Choice

Use the following to answer questions: Table: Equilibrium Price, Quantity $$\begin{array} { c c c } \hline \boldsymbol { P } & \boldsymbol { Q } _ { \mathbf { d } } & \boldsymbol { Q } _ { \mathbf { s } } \\\hline \$ 10 & 50 & 30 \\12 & 45 & 35 \\14 & 40 & 40 \\16 & 35 & 45 \\18 & 30 & 50 \\\hline\end{array}$$
-(Table: Equilibrium Price, Quantity) Refer to the table. If the price in the market was $12, there would be a:

• A) shortage of 10 units.
• B) shortage of 45 units.
• C) surplus of 10 units.
• D) surplus of 35 units.

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Definitions:

Falsifiable Hypothesis

A hypothesis that can be demonstrated to be false by an experiment or observation, a critical aspect of the scientific method.

Prokaryotes

Single-celled organisms that lack a nucleus and membrane-bound organelles, including bacteria and archaea.

Bacteria

Prokaryotic organisms that have peptidoglycan in their cell walls; most are decomposers, but some are parasites and others are autotrophs. Bacteria is the name of one of the two prokaryotic domains. Compare with archaea.

Fungi

A kingdom of non-photosynthetic organisms that includes molds, yeasts, and mushrooms, characterized by their chitinous cell walls and absorption of nutrients from the environment.