-When Price Is $8
A)quantity Demanded Is Greater Than Quantity

question 57

Multiple Choice

$\begin{array}{ccc}\text { Quantity Demanded } & \text { Price } & \text { Quantity Supplied } \\30 & \$ 10 & 64 \\40 & \$ 8 & 55 \\50 & \$ 6 & 50 \\60 & \$ 4 & 40 \\70 & \$ 2 & 20\end{array}$
-When price is $8

• A)quantity demanded is greater than quantity supplied and,therefore,price must fall to get to equilibrium price.
• B)quantity demanded is greater than quantity supplied and,therefore,price must rise to get to equilibrium price.
• C)quantity supplied is greater than quantity demanded and,therefore,price must fall to get to equilibrium price.
• D)quantity supplied is greater than quantity demanded and,therefore,price must rise to get to equilibrium price.

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Definitions:

Generalized Other

A concept in sociology referring to the general notion that a person has of the common expectations that others have about actions and thoughts within a particular society.

Agent of Socialization

Individuals, groups, or institutions that play significant roles in integrating individuals into larger society by teaching social norms, values, and practices.

Looking-glass Self

A concept in sociology that suggests a person's self-understanding is constructed, in part, by how they believe others perceive them.

Stable Personality

A personality trait indicating that an individual's behavior and emotional reactions are consistent over time.