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:

Lincoln-Douglas Debates

A series of seven debates in 1858 between Abraham Lincoln and Stephen A. Douglas focusing on the issue of slavery in American territories.

U.S. Senator

A member of the United States Senate, one of the two chambers of the United States Congress, elected to represent their state for a term of six years.

Illinois

A state located in the Midwestern region of the United States, known for its diverse economic base and as being home to the city of Chicago.

1858

The year notable for several historical events, such as the Lincoln-Douglas debates during the Illinois senatorial campaign, which had a significant impact on the anti-slavery movement in the United States.