Table 18-4 -Table 18-4 Presents the Demand and Supply Schedules for Television

question 31

Multiple Choice

Table 18-4
$\begin{array}{ccccccc}\text { Quantity }&\text { Quantity }&\text { Quantity }&\text { Quantity }&\\\text { Price per } & \text { Demanded } & \text { Supplied } & \text { Demanded } & \text { Supplied } \\\text { TV } & \text { in United States } & \text { in United States } & \text { Japan } & \text { Japan } \\\underline {\text { (dollars) }} &\underline { \text { (thousands) }} & \underline { \text { (thousands) }} &\underline { \text { (thousands) }} & \underline { \text { (thousands) }} \\100 & 100 & 10 & 100 & 25 \\200 & 85 & 20 & 85 & 50 \\300 & 70 & 30 & 70 & 70 \\400 & 60 & 40 & 60 & 80 \\500 & 50 & 50& 50 & 90 \\600 & 40 & 60 & 40 & 100 \\700 & 30 & 70 & 30 & 110 \\800 & 30 & 80 & 20 & 120\end{array}$
-Table 18-4 presents the demand and supply schedules for television sets in Japan and the United States.If there is no trade between these countries, what are the equilibrium price and quantity in Japan?

• A) P = $100, Q = 100
• B) P = $200, Q = 85
• C) P = $300, Q = 70
• D) P = $400, Q = 60

Understand the utility-maximizing rule and how consumers allocate their budget.

Grasp the impact of utility on demand curves and market behavior.

Analyze the effect of consumer satisfaction on purchasing decisions.

Understand the concept of profit sharing and its effectiveness in different economic conditions.

---

Definitions:

Stereotypes

Oversimplified and generalized beliefs about a particular group of people or things, often based on assumptions rather than facts.

Young Women

Females in their youth, often considered to be in their late teens to early thirties.

California

A U.S. state located on the West Coast of the country, known for its diverse geography ranging from the Pacific Coast to the Sierra Nevada mountains, as well as its significant economic, cultural, and technological contributions.

Groupthink

A psychological phenomenon in which the desire for harmony or conformity in a group leads to an irrational or dysfunctional decision-making outcome.