Table 4-3 the Demand Schedule Below Pertains to Sandwiches Demanded Per

question 84

Multiple Choice

Table 4-3. The demand schedule below pertains to sandwiches demanded per week.

-Refer to Table 4-3.Suppose Alfred,Belinda,and Charissa are the only demanders of sandwiches.Also suppose: • x = 2;
• the current price of a sandwich is $3.00;
• the market quantity supplied of sandwiches is 4;
• the slope of the supply curve is 2.
Then

• A)there is currently a shortage of 6 sandwiches and the equilibrium price of a sandwich is between $3.00 and $5.00.
• B)there is currently a shortage of 6 sandwiches and the equilibrium price of a sandwich is $5.00.
• C)there is currently a shortage of 8 sandwiches and the equilibrium price of a sandwich is between $3.00 and $5.00.
• D)there is currently a shortage of 8 sandwiches and the equilibrium price of a sandwich is higher than $5.00.

---

Definitions:

Nonprofit Organization

An organization whose primary objective is to support an issue or matter of private interest or public concern for non-commercial purposes, and where surplus revenues are reinvested in the organization.

For-profit Organization

A type of business entity that operates with the primary goal of earning profits for its owners or shareholders.

Marketing

The process of promoting, selling, and distributing a product or service, including market research and advertising.

Nonprofit Organizations

Entities primarily aimed at serving the public interest or social causes rather than generating profit for owners or shareholders.