Table 52 Shows the Aggregate Demand and Supply Schedules for the the Economy

question 14

Multiple Choice

Table 5.2 shows the aggregate demand and supply schedules for the economy of Adana.

-Refer to Table 5.2 to answer this question.If the aggregate quantity demanded falls by $100 at every price level,what will be the new equilibrium price level and real output,respectively?

• A)100 and $550.
• B)105 and $650.
• C)110 and $650.
• D)115 and $500.

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Definitions:

Base

The number that is repeatedly multiplied by itself when raised to an exponent, or the bottom side of a geometric figure.

Simplify

The process of altering an expression or equation to make it easier to understand or solve, usually by combining like terms or removing parentheses.

Average Cost

The total cost divided by the number of goods produced, calculating the cost per unit of goods.

Domain

In mathematics, specifically in the context of functions, the domain is the set of all possible input values (or arguments) for which the function is defined.