-Consider the Market Described by the Schedule in Table 2

question 59

Multiple Choice

-Consider the market described by the schedule in Table 2.4. Which of the following is true?

• A) The law of demand is violated.
• B) The law of supply is violated.
• C) There is no equilibrium.
• D) At $5 per unit, people will purchase 400 units.
• E) At $2 per unit, people will purchase 1000 units.

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Definitions:

Impeller

The driving member of a torque converter torus; the impeller is mechanically connected to the engine crankshaft and should rotate at the same speed.

Lock-up Clutch

A mechanism used in automatic transmissions that locks the engine directly to the transmission's output, improving fuel efficiency and performance.