Refer to the Figure Below

question 115

Multiple Choice

Refer to the figure below. Suppose all the sellers in this market started out charging a price of $45 per unit. What is the most likely result?

• A) They would all make a large profit because $45 is more than the equilibrium price.
• B) They would all just break even because $45 is their reservation price.
• C) They would lower their prices because at $45 there would be excess supply.
• D) They would lower their prices because at $45 there would be excess demand.

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Definitions:

Regedit

Short for Registry Editor, a Windows utility that allows users to view and edit the registry, which stores configuration settings and options on Microsoft Windows operating systems.

WPS

Wi-Fi Protected Setup, a network security standard to create a secure wireless home network.

WPA

Wi-Fi Protected Access, a security protocol designed to secure wireless computer networks.

Wireless Network

A type of network that uses air as the medium to connect devices.