Use the Table Below to Answer the Following Questions

question 176

Multiple Choice

Use the table below to answer the following questions.
Table 3.4.1

-Refer to Table 3.4.1.If the price is $3,then the shortage is

• A)zero units.
• B)1,050 units.
• C)180 units.
• D)600 units.
• E)160 units.

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Definitions:

Assumptions

Conditions or principles that are taken as true or as certain to happen, without proof, for the purpose of argument or investigation.

Factor Of Production

A resource used in the production process to generate goods and services, such as labor, land, and capital.

Output

The aggregate output of goods or services from a firm, industry, or the economy as a whole.

Academic Probation

A warning status given to students whose academic performance falls below an institution's requirement.