Figure 3-6 -Refer to Figure 3-6. the Figure Above Represents the Market

question 433

Multiple Choice

Figure 3-6
-Refer to Figure 3-6. The figure above represents the market for canvas tote bags. Assume that the market price is $35. Which of the following statement is true?

• A) There is a surplus that will cause the price to decrease; quantity demanded will then increase and quantity supplied will decrease until the price equals $25.
• B) There is a surplus that will cause the price to decrease; quantity supplied will then increase and quantity demanded will decrease until the price equals $25.
• C) There will be a surplus that will cause the price to decrease; demand will then increase and supply will decrease until the price equals $25.
• D) There is a surplus that will cause the price to increase; quantity demanded will then decrease and quantity supplied will increase until the price equals $25.

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Vulnerable

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Extinction

The permanent loss of a species from the Earth.

Reconciliation Project

Initiatives or programs designed to mend relationships and resolve disputes among groups or nations, focusing on healing and understanding past grievances.