Table 3-E -Refer to Table 3-E

question 72

Multiple Choice

Table 3-E
$\begin{array}{ccc}\text { Price per gallon } &\text { Quantity Demanded }&\text { Quantity Supplied of } \\&\text { (thousands of gallons) }&\text { gasoline (thousands of }\\&&\text { gallons) }\\\$ 4.50 & 600 & 2,000 \\\$ 4.25 & 700 & 1,900 \\\$ 4.00 & 800 & 1,800 \\\$ 3.75 & 950 & 1,700 \\\$ 3.50 & 1,200 & 1,600 \\\$ 3.25 & 1,500 & 1,500 \\\$ 3.00 & 1,800 & 1,400 \\\$ 2.75 & 2,100 & 1,300 \\\$ 2.50 & 2,400 & 1,200\end{array}$


-Refer to Table 3-E.According to the data in the above table, the equilibrium price of gasoline is:

• A)$3.00
• B)$3.25
• C)$3.50
• D)$3.75
• E)$4.00

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Definitions:

Cognitive Disciplines

Areas of study that focus on understanding mental processes such as learning, perception, memory, and decision-making.

Motivational Drives

Internal impulses that prompt action towards fulfilling a need or achieving a goal.

Expectancies

Beliefs about the potential outcomes of certain behaviors, which can influence an individual's decisions and actions.

Cognitive Factors

Elements that affect the processes of thinking, understanding, learning, and remembering.