-According to the Above Table, at a Price of $8

question 355

Multiple Choice

-According to the above table, at a price of $8 per unit, other things constant

• A) consumers will continue to bid prices upward.
• B) there will be no tendency for the market to approach an equilibrium.
• C) a surplus of 100 units will exist.
• D) a shortage of 80 units will exist.

---

Definitions:

Emotional Energy

The capacity to create, sustain, or change emotions, often seen as a resource that drives personal or group dynamics.

Cognitive Algebra

A theory in social psychology that describes how individuals combine various pieces of information to form judgments or make decisions.

Impression Formation

The psychological process through which we form a mental image or judgment about another person based on available information and cues.

Social Psychology

The scientific study of how individuals think, influence, and relate to one another within a societal context.