Refer to the Above Table

question 349

Multiple Choice

$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Price Per } \\\text { Unit }\end{array} & \text{Quantity Demanded Per Year}&\text{Quantity Supplied Per Year} \\\hline \$ 5 & 2,000 & 0 \\\hline 10 & 1,800 & 300 \\\hline 15 & 1,600 & 600 \\\hline 20 & 1,400 & 900 \\\hline 25 & 1,200 & 1,200 \\\hline 30 & 1,000 & 1,500 \\\hline\end{array}$$ Refer to the above table. In this competitive market, the price and quantity will settle at

• A) $10 and 2,000 units.
• B) $15 and 1,600 units.
• C) $20 and 900 units.
• D) $25 and 1,200 units.

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Definitions:

Funding

The act of providing financial resources, typically in the form of money, or other values such as effort or time, to support a need, program, and project, usually by an organization or government.

Emile Durkheim

A foundational figure in sociology known for his work on social solidarity, the division of labor, religion, and his theory on suicide as a social phenomenon.

Society

A group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or social territory and cultural expectations.

Personal Choices

Decisions made by an individual based on personal preference, values, or beliefs, influencing one's life and the lives of others.