Refer to the Information Provided in Table 3 -Refer to Table 3

question 67

Multiple Choice

Refer to the information provided in Table 3.2 below to answer the question(s) that follow.
Table 3.2
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Price per } \\\text { Cheeseburger }\end{array} & \begin{array} { c } \text { Quantity Demanded } \\\text { (Cheeseburgers per } \\\text { Month) }\end{array} & \begin{array} { c } \text { Quantity Supplied } \\\text { (Cheeseburgers per } \\\text { Month) }\end{array} \\\hline \$ 5 & 1,500 & 500 \\\hline 6 & 1,200 & 700 \\\hline 7 & 900 & 900 \\\hline 8 & 600 & 1,100 \\\hline 9 & 300 & 1,300 \\\hline\end{array}$$
-Refer to Table 3.2. This market will be in equilibrium if the price per cheeseburger is

• A) $5.
• B) $6.
• C) $7.
• D) $8.

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Definitions:

Term Deposit

A bank deposit with a fixed term and usually a higher interest rate than a savings account, requiring funds to remain deposited for a specific period.

Maturity

The final payment date of a loan or financial instrument at which point the principal (and all remaining interest) is due to be paid.

Invested

The act of allocating resources, usually money, into something to earn a return or profit.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual percentage.