-Refer to the Above Information to Answer This Question

question 8

Multiple Choice

-Refer to the above information to answer this question.If supply increases by 40 units,what will be the new values of equilibrium price and quantity?

• A)$40 and 140.
• B)$45 and 120.
• C)$50 and 140.
• D)$60 and 120.
• E)$60 and 140.

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Definitions:

Philosophy

The study of fundamental questions about existence, knowledge, values, reason, mind, and language through a critical, systematic approach and reasoned argument.

Logic

The study of reasoning and argument, focusing on the principles that guide rational thought and inference.

Revolution

A significant change that usually occurs in a relatively short period of time, affecting societal structures, technology, or ideologies.

Basic Needs

Fundamental requirements for human survival, including food, water, shelter, and clothing.