Table 7-3
Market Supply and Demand for Good X -Refer to Table 7-3

question 23

Multiple Choice

Table 7-3
Market supply and demand for good X
$\begin{array}{|c|c|c|}\hline \text { Price (\$) } & \text { Quantity demanded } & \text { Quantity supplied } \\\hline 12.00 & 0 & 36 \\\hline 10.00 & 12 & 30 \\\hline 8.00 & 24 & 24 \\\hline 6.00 & 36 & 18 \\\hline 4.00 & 48 & 12 \\\hline 2.00 & 60 & 6 \\\hline 0.00 & 72 & 0 \\\hline\end{array}$
-Refer to Table 7-3.The equilibrium or market-clearing price is:

• A)$10.00
• B)$8.00
• C)$6.00
• D)$4.00

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Definitions:

Flow

A mental state in which a person performing an activity is fully immersed in a feeling of energized focus, full involvement, and enjoyment.

External Rewards

Incentives provided by external factors, such as money, praise, or trophies, which motivate behavior.

Focused Concentration

The mental effort directed toward a single task or subject, eliminating distractions to achieve a heightened state of awareness and productivity.

Csikszentmihalyi

A psychologist known for his work on the concept of "flow," a state of intense absorption and enjoyment in what one does.