Figure 312 Alt Text for Figure 3

question 215

Multiple Choice

Figure 3.12 Alt text for Figure 3.12: In figure 3.23, a graph plotting intersecting supply and demand curves represents the market for coffee grinders.
Long description for Figure 3.12: The x-axis is labelled, Quantity, with the values 0, 10, 20, 50, 75, and 100 marked.The y-axis is labelled, Price, with the values 0, 15, 25, and 50 dollars marked.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 (50,25) .The point plotted on curve S to the left of equilibrium is (20,15) .The point plotted on curve D to the right of point of equilibrium is (75,15) .The point plotted to the right of equilibrium on curve S is (100,50) .The point plotted to the right of the equilibrium on curve D is (10,50) .
-Refer to Figure 3.12.The figure above represents the market for coffee grinders.Assume that the price of coffee grinders is $50.At this price

• A)the quantity supplied exceeds the quantity demanded by 100.The price will eventually fall to $25 where quantity demanded will equal quantity supplied.
• B)the supply exceeds demand by 90.Some producers will have an incentive to offer to sell coffee grinders at a lower price.
• C)there is a surplus equal to 90 coffee grinders that will be eliminated when the price falls to $25.
• D)there is a surplus equal to 90 coffee grinders, and the price of coffee grinders will fall until demand is equal to supply.

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Definitions:

Lactose Tolerance

The ability of adults to digest lactose, a sugar found in milk, due to the continued activity of the enzyme lactase.

Social Nature

The inherent inclination of humans to seek connections and interactions with others, forming communities and societies.

Social Barriers

Obstacles within a society that prevent individuals or groups from accessing resources, opportunities, or rights, typically based on socio-economic, racial, or gender differences.

Luo Father

A term specific to the Luo community or cultural context, likely referring to a male parental figure or leadership position within the Luo people, an ethnic group in East Africa.