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

question 213

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. If the price per cheeseburger is $5, there is an excess

• A) demand of 300 cheeseburgers.
• B) supply of 500 cheeseburgers.
• C) demand of 1,000 cheeseburgers.
• D) supply of 2,000 cheeseburgers.

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Definitions:

Basic Research

aims at gaining fundamental knowledge and understanding of phenomena without immediate practical application or use in view, often driven by curiosity and exploratory motives.

Attribution Theory

Attribution theory is a psychological theory focused on how people interpret events and how this relates to their thinking and behavior, especially how they attribute causes to events.

Temporal Precedence

A principle in causal inference, suggesting that a cause must precede its effect in time for a causal relationship to be considered.

Basic Research

A form of scientific investigation that aims to increase the understanding of fundamental principles, without immediate application to practical problems.