Use the Following to Answer Questions

question 154

Multiple Choice

Use the following to answer questions :
Figure: The Demand and Supply of Wheat
-(Figure: The Demand and Supply of Wheat) Look at the figure The Demand and Supply of Wheat. If there is an increase in demand of 2,000 bushels at each price, the equilibrium price and quantity will be _____ and _____ bushels, respectively.

• A)$5; 5,000
• B)$6; 7,000
• C)$7; 7,000
• D)$8; 8,000

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Definitions:

Inventions

Unique or novel devices, methods, or processes that result from study and experimentation.

Schemes

In cognitive development, structured patterns of thought or behavior that individuals use to make sense of their experiences, often evolving with new information.

Cognition

The mental action or process of acquiring knowledge and understanding through thought, experience, and the senses, encompassing processes such as memory, judgment, and problem-solving.

Reflexes

Involuntary responses or actions that are automatic and occur without conscious thought in reaction to specific stimuli.