Use the table below to answer the following questions.
Table 3.5.1
The Market for Car-Seat Heaters
-Refer to Table 3.5.1.Suppose a problem develops with car-seat heaters - they malfunction and occasionally cause serious burns.As a result,demand decreases by 100 heaters at each price.The new equilibrium price is $________ and the new equilibrium quantity is ________ heaters per month.
Definitions:
Office Equipment
Office equipment consists of tangible property like desks, computers, and copiers that are used in an office setting for operations and administrative functions.
Financial Position
A snapshot of what a company owns (assets) and owes (liabilities) at a particular point in time, showing its net worth.
Property
Assets or possessions owned by an individual or company, comprising both tangible items, like buildings and land, and intangible items like patents or copyrights.
Current Liability
A business's liabilities or amounts owed that must be settled with lenders within a twelve-month period.
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