Use the Figure Below to Answer the Following Questions

question 91

Multiple Choice

Use the figure below to answer the following questions.
Table 3.5.2
Demand and Supply Schedules for Cups of Coffee each day at CoolU

-Refer to Table 3.5.2.Professor Hyper publishes a new study,showing that coffee raises the test performance of students.Students double their demand for coffee and the quantity of coffee demanded at each price doubles.The new equilibrium price is $________,and the new equilibrium quantity is ________ cups a day.

• A)1.20;1,000
• B)1.30;1,200
• C)1.50;1,600
• D)1.40;1,400
• E)none of the above

Understand the concept of production possibilities curves and their implications for economic production and trade.

Comprehend the basis and benefits of mutual advantageous trade between nations.

Grasp the theory of comparative advantage and its role in determining what goods a nation should produce and trade.

Recognize the primary gains from international trade for involved countries.

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Definitions:

Organizational Culture

The collective beliefs, values, and customs that guide the behaviors, emotions, and thoughts of workers in a company.

Psychological Contract

An unwritten set of expectations and obligations that defines the relationship between an employer and an employee, beyond the formal contract of employment.

Production Quotas

Predetermined targets for the quantity of products that must be produced within a certain timeframe, often used to gauge productivity or assign tasks.

Decertification Elections

A process wherein the employees of a bargaining unit vote on whether to remove the union as their collective bargaining representative.