Figure 37 Alt Text for Figure 3

question 94

Multiple Choice

Figure 3.7 Alt text for Figure 3.7: In figure 3.7, a graph plotting intersecting supply and demand curves illustrates surplus and shortage in a market, along with an equilibrium.
Long description for Figure 3.7: The x-axis is labelled, Quantity, and is marked from 0 to 8 in increments of 2.The y-axis is labelled, Price, and is marked from 0 to 20 dollars in increments of 5.Curve D is a straight line which slopes down from the top left corner to the bottom right corner.Curve S is a straight line which begins in the bottom left corner and slopes up to the top right corner.The equilibrium of the 2 curves is marked at (4,10) .2 points plotted on the demand curve to the left of the equilibrium are (0,20) and (2,15) .2 points plotted on the demand curve to the right of the equilibrium are (6,5) and (8,0) .2 points plotted on the supply curve to the right of the equilibrium are (6,15) and (8,20) .2 points plotted on the supply curve to the left of the equilibrium are (2,5) and (0,0) .
-Refer to Figure 3.7.At a price of $5, the quantity sold

• A)is 2 units.
• B)is 4 units.
• C)is 6 units.
• D)cannot be determined.

---

Definitions:

Executive Leader

A high-level manager who is responsible for setting strategic goals, making critical decisions, and leading an organization toward its objectives.

Environment

The surroundings or conditions in which a person, animal, or plant lives or operates.

Ethical Initiative

Actions taken to ensure decisions and practices uphold moral standards and contribute positively to the welfare of others.

Leading By Example

Influencing others by acting as a positive role model.