Answer the Question on the Basis of the Following Aggregate

question 113

Multiple Choice

Answer the question on the basis of the following aggregate demand and supply schedules for a hypothetical economy: $\begin{array}{c}\begin{array}{c}\text {Amount of Real }\\\underline{\text {Output Demanded}}\\\$ 200 \\300 \\400 \\500 \\600\end{array}\begin{array}{c}\text {Price Level}\\\underline{\text {(Index Value) }}\\300\\250\\200\\150\\100\end{array}\begin{array}{c}\text {Amount of Real}\\\underline{\text {Output Supplied}}\\\$ 500 \\450 \\400 \\300 \\200\end{array}\end{array}$
Refer to the data.The equilibrium price level will be:

• A) 150.
• B) 200.
• C) 250.
• D) 300.

---

Definitions:

Relative Advantage

The degree to which an innovation is perceived as better than the idea it supersedes, contributing to its rate of adoption.

Product Adoption

The process by which a consumer or market accepts and begins to use a new product, service, or technology.

True Innovators

Individuals or organizations that pioneer new ideas, technologies, or methods, often leading to significant changes or advancements.

Early Adopters

Individuals who embrace new products or technologies before most other consumers, often influencing others’ adoption.