Refer to the Table Below

question 5

Multiple Choice

Refer to the table below. If the price of this good is $2.00, there would be a _________ of _________ units.

• A) shortage; 20
• B) surplus; 50
• C) shortage; 30
• D) surplus; 30
• E) surplus; 20

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Definitions:

Trade Dress

The visual appearance of a product or its packaging that signifies the source of the product to consumers, protected under trademark law.

Colour Code

A system for displaying information by using different colors to represent specific categories, statuses, or priorities in various contexts.

Demographic Characteristics

Specific attributes of a population segment including age, gender, income level, and educational attainment, used for market segmentation and analysis.

Visual Cues

Visual elements that influence consumer perception and behavior by attracting attention, conveying messages, or evoking emotions.