Exhibit 4-9 Data on Supply and Demand -In Exhibit 4-9, Which of the Following Would Occur at r

question 151

Multiple Choice

Exhibit 4-9 Data on supply and demand $$\begin{array} { | r | c | c | } \hline \text { Price } & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} \\\hline \$ 2.00 & 100 & 300 \\1.50 & 150 & 250 \\1.00 & 200 & 200 \\0.50 & 250 & 150 \\\hline\end{array}$$
-In Exhibit 4-9, which of the following would occur at a price of $2.00?

• A) Inventories would put upward pressure on price.
• B) Quantity demanded exceeds quantity supplied, putting downward pressure on price.
• C) Inventories would put downward pressure on price.
• D) The surplus would be so small that there would be only slight downward pressure on price.

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Definitions:

Maxilla

One of a pair of bones forming the upper jaw, holding the upper teeth and playing a key role in the structure of the face.

Mandible

The lower jawbone, critical for chewing and forming the lower part of the face.

Lacrimal

Relating to tears or the tear glands, involved in tear production and drainage into the nasal cavity.

Foramen Magnum

A large opening in the base of the skull through which the spinal cord connects to the brain.