Exhibit 4-9 Data on Supply and Demand

question 4

Multiple Choice

Exhibit 4-9 Data on supply and demand
In Exhibit 4-9 the equilibrium price and quantity in the market are:

• A)$5.50, 200.
• B)$1.50, 300.
• C)$2.00, 100.
• D)$1.00, 200.

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Definitions:

Diffusion

The process by which an innovation is communicated through certain channels over time among the members of a social system.

Innovator

An individual or organization that introduces new ideas, products, services, or methods, often leading the way in developments within their field.

Innovators

Individuals or organizations that introduce new ideas, products, or methods, often leading change and development in their respective fields.

Marketers

Professionals or organizations engaged in promoting and selling products or services, including market research and advertising.