Use the Following to Answer Questions: Table: Equilibrium Adjustment -(Table: Equilibrium Adjustment) Refer to the Table

question 21

Multiple Choice

Use the following to answer questions: Table: Equilibrium Adjustment $$\begin{array} { c c c } \hline \text { Price } & \text { Quantity Demanded } & \text { Quantity Supplied } \\\hline \$ 10 & 100 & 160 \\8 & 120 & 145 \\6 & 130 & 130 \\4 & 140 & 115 \\2 & 150 & 100 \\\hline\end{array}$$
-(Table: Equilibrium Adjustment) Refer to the table. The equilibrium price is:

• A) $2.
• B) $4.
• C) $6.
• D) $8.

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Definitions:

Political Science Major

An academic discipline that focuses on the study of government, political processes, and political behavior.

English Major

An academic field of study that focuses on literature, language, and writing in the English language.

Expected Utility

Sum of the utilities associated with all possible outcomes, weighted by the probability that each outcome will occur.

Income

The money a person or business receives in exchange for providing a good or service or through investing capital.