Figure 3-6 -Refer to Figure 3-6.The Figure Above Represents the Market for the Market

question 77

Multiple Choice

Figure 3-6
-Refer to Figure 3-6.The figure above represents the market for coffee grinders.Assume that the price of coffee grinders is $50.At this price

• A)the quantity supplied exceeds the quantity supplied by 100.The price will eventually fall to $25 where quantity demanded will equal quantity supplied.
• B)the supply exceeds the demand by 90.Some producers will have an incentive to offer to sell coffee grinders at a lower price.
• C)there is a surplus equal to 90 coffee grinders that will be eliminated when the price falls to $25.
• D)there is a surplus equal to 90 coffee grinders and the price of coffee grinders will fall until demand is equal to supply.

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Definitions:

Entrepreneurial Culture

An organizational culture that fosters innovation, risk-taking, and the proactive pursuit of opportunities.

Lewin's Force Field Model

Lewin's Force Field Model is a framework for understanding change within organizations, involving the analysis of forces driving and resisting change, to facilitate transformation.

Cultural Setting

The environment composed of the customs, practices, and social behavior of a particular people or society.

Ethical Concerns

Situations or problems demanding an individual or organization to decide between choices that need to be considered as morally correct or incorrect.