Figure 310 Alt Text for Figure 3

question 66

Multiple Choice

Figure 3.10 Alt text for Figure 3.10: In figure 3.10, a graph plotting intersecting supply and demand curves illustrates how supply and demand function in competitive markets.
Long description for Figure 3.10: The x-axis is labelled, Quantity, with the values 0, 200, 400, 500, 600, 700 and 800 marked.The y-axis is labelled, Price, with the values 0, 10.00, 15.00, 20.00 and 25.00 dollars marked.Supply Curve S is a straight line which slopes up from the bottom left corner to the top right corner.4 points are plotted along the curve; (200, 10) , (400, 15) , (600, 20) , and (800, 25) .Demand curve D is a straight line which slopes down from the top left corner to the bottom right corner.Curve D intersects the S curve at (600, 20) , and passes through another point, (800, 10) .All plotted points are connected to the corresponding values on the x and y-axis with dotted lines.
-Refer to Figure 3.10.If the current market price is $25, the market will achieve equilibrium through

• A)a price increase, increasing the supply and decreasing the demand.
• B)a price decrease, decreasing the supply and increasing the demand.
• C)a price decrease, decreasing the quantity supplied and increasing the quantity demanded.
• D)a price increase, increasing the quantity supplied and decreasing the quantity demanded.

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Definitions:

Vestibular Receptors

Sensory receptors located in the inner ear that contribute to balance and spatial orientation by detecting changes in head movements and positions.

Gravity

The natural force of attraction exerted by a celestial body, such as Earth, on objects, drawing them toward its center.

Vestibular System

Somatosensory system comprising a set of receptors in each inner ear that respond to body position and to movement of the head.

Inner Ear

The inner part of the ear that contains structures responsible for hearing and balance, including the cochlea and vestibular system.