The Table Given Below Reports the Quantity Demanded of a Good

question 40

Multiple Choice

The table given below reports the quantity demanded of a good by individuals 1, 2, and 3 at different prices.Table 3.1

-Last year a firm made 1,000 units of its product available at a price of $5 per unit. This year the firm will still make 1,000 units available, but only if the price is $7 per unit. What is most likely to have happened?

• A)Supply has increased
• B)Supply has decreased
• C)Demand has decreased
• D)Quantity demanded has increased
• E)Quantity supplied has increased

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Definitions:

ATP

Adenosine triphosphate, a molecule that carries energy within cells for metabolism.

NADH

Nicotinamide adenine dinucleotide (reduced form), a coenzyme found in all living cells that plays a critical role in energy production through oxidation-reduction reactions.

Fermentation

Anaerobic breakdown of glucose that results in a gain of two ATP and end products such as alcohol and lactate; occurs in the cytoplasm of cells.

Muscles

Tissues in the body that can contract, enabling movement and force generation.