Table 43 -The Table Given Above Shows the Quantity Supplied and the |

question 12

Multiple Choice

Table 4.3
$$\begin{array} { | c | c | c | } \hline \text { Price (\$) } & \text { Quantity demanded } & \text { Quantity supplied } \\\hline 1.0 & 100 & 10 \\\hline 1.20 & 90 & 30 \\\hline 1.40 & 80 & 50 \\\hline 1.50 & 70 & 70 \\\hline 1.60 & 60 & 90 \\\hline\end{array}$$
-The table given above shows the quantity supplied and the quantity demanded of a good at different prices.If the price of the good described in the table above is $1.60,then an economist would expect the _____

• A)price to decrease to $1.40.
• B)price to decrease to $1.50.
• C)quantity supplied to decrease to 30 units.
• D)quantity demanded to increase to 90 units.
• E)quantity demanded to increase to 90 units .

---

Definitions:

Cloud

A technology that allows for the storage and access of data and programs over the internet instead of on a local computer's hard drive.

Crude Oil

A natural, unrefined petroleum product composed of hydrocarbon deposits and other organic materials, used as a fuel and raw material.

Market Price

The current value or cost of a good or service as determined by supply and demand in the open market.

Bilateral Mistake

In contract law, a mistake made by both parties to a contract. Bilateral mistake allows rescission by either party. Also called mutual mistake.