Refer to the Following Figure

question 196

Multiple Choice

Refer to the following figure. Which point has coordinates (-3, 4) ?

• A) A
• B) B
• C) G
• D) D
• E) C

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Definitions:

Substitute Goods

Products or services that can be used in place of each other, offering consumers choices when making purchases.

Bumper Crop

An unusually large harvest of crops in a given season.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, resulting in a stable market condition.

Demand Decreases

A reduction in the quantity of a good that consumers are willing and able to buy at each possible price.