The Figure Given Below Represents the Equilibrium Price and Output

question 56

Multiple Choice

The figure given below represents the equilibrium price and output in the market for restaurant meals and delivery meals.
Figure 4.1

-Refer to Figure 4.1. In which direction will the resources flow following a shift in the demand for Restaurant Meals and Delivery Meals as represented by the figure?

• A) Resources flow from where they are more highly valued to where they are less highly valued in order to make the consumer better off.
• B) Resources flow from where they are more highly valued to where they are less highly valued in order to reduce prices.
• C) Resources flow from where they are more highly valued to where they are less valued in order to reduce costs.
• D) Resources flow from Restaurant production and sales to Delivery production and sales.
• E) Resources flow to Restaurant production and sales and away from Delivery production and sales.

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Definitions:

Beef Consumption

The quantity of beef eaten over a particular period of time by an individual or population.

Nutrition Records

Documentation of food and beverage intake by an individual or group, used for analyzing nutritional status or research purposes.

Confidence Bound

The upper or lower limit of a confidence interval, representing the range within which a population parameter is estimated to lie with a certain level of confidence.

Sailboat Owners

Individuals who own and possibly operate sailboats, typically as a hobby or for sport.