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

question 26

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 5;
• the slope of the supply curve is 1.
Then

• A)there is currently a shortage of 5 sandwiches and the equilibrium price of a sandwich is between $3.00 and $5.00.
• B)there is currently a shortage of 5 sandwiches and the equilibrium price of a sandwich is $5.00.
• C)there is currently a shortage of 7 sandwiches and the equilibrium price of a sandwich is between $3.00 and $5.00.
• D)there is currently a shortage of 7 sandwiches and the equilibrium price of a sandwich is higher than $5.00.

Apply critical thinking to solve problems related to the organization of comparative and contrastive information.

Understand the concepts of margin of error, confidence interval, and sample size in the context of statistical polling and inference.

Calculate confidence intervals for proportions and means from given data.

Determine the adequacy of sample sizes for specific margins of error and confidence levels.