Figure 3-6 -Refer to Figure 3-6.The Figure Above Represents the Market for the Market

question 186

Multiple Choice

Figure 3-6
-Refer to Figure 3-6.The figure above represents the market for coffee grinders.Compare the conditions in the market when the price is $15 and when the price is $21.Which of the following describes how the market differs at these prices?

• A)At each price there is a shortage; the shortage is greater at $15 than at $21.
• B)The difference between quantity supplied and quantity demanded is greater at $21 than at $15.
• C)At each price there is a shortage; firms will raise the equilibrium price in order to eliminate the shortage.
• D)At each price the demand for coffee grinders exceeds the supply of coffee grinders.

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Definitions:

Additive Colour Mixing

A method of creating color by mixing a number of different light colors, with shades from red, green, and blue being typical primary colors used in this process.

Perceptual Set

A mental predisposition to perceive one thing and not another, influenced by expectations, emotions, and culture.

Sensory Input

The information received by the sensory organs and transmitted to the brain.

Cones

Photoreceptor cells in the retina of the eye responsible for color vision and visual clarity in bright light conditions.