-The Above Table Shows the Demand Schedule and Supply Schedule

question 74

Multiple Choice

-The above table shows the demand schedule and supply schedule for chocolate chip cookies. An increase in income results in an increase in the demand for chocolate cookies by an amount of 3 pounds at every price. What are the new equilibrium quantity and equilibrium price?

• A) 5 pounds, $4.00 per pound
• B) 5 pounds, $6.00 per pound
• C) 5 pounds, $5.00 per pound
• D) 4 pounds, $5.00 per pound

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Definitions:

Oxygen

A chemical element with symbol O and atomic number 8, essential for aerobic respiration in most living organisms.

Soil-Testing Laboratory

A specialized facility that analyzes soil samples to determine nutrient content, composition, and other characteristics important for agriculture and environmental science.

Inorganic Mineral Particles

Solid, naturally occurring substances that are not derived from living organisms, commonly found in soils and rocks, essential for various environmental and biological processes.

Organic Material

Matter that comes from living organisms or is composed of compounds originally synthesized by living organisms, often rich in carbon.