Refer to the Information Provided in Table 9

question 103

Multiple Choice

Refer to the information provided in Table 9.3 below to answer the questions that follow.
Table 9.3
All Numbers are in $ Million

-Refer to Table 9.3.The equilibrium level of aggregate output is $________ million.

• A)1,200
• B)1,300
• C)1,400
• D)1,500

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Definitions:

Contractual Obligation

A duty or commitment that one party is legally required to perform as per the terms of a contract.

Market Price

The current price at which an asset or service can be bought or sold in a given market.

Added Cost

Additional expenses incurred beyond the initially planned or budgeted amounts.

Fully Discharged

The status of having completely fulfilled a responsibility, duty, or debt, releasing the subject from further obligations.