-Using the Data in the Table Above,at the Price of $80

question 165

Multiple Choice

-Using the data in the table above,at the price of $80 a phone,

• A) a shortage of 25,000 cellular telephones occurs.
• B) a surplus of 80,000 cellular telephones occurs.
• C) a surplus of 25,000 cellular telephones occurs.
• D) a shortage of 55,000 cellular telephones occurs.
• E) the market is in equilibrium.

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Definitions:

Wages High

Refers to compensation or earnings that are at the upper end of the pay scale, often above the average level within a particular job or industry.

Self-Fulfilling Prophecy

A self-fulfilling prophecy is an outlook or prediction that manifests into reality because of the interaction between belief and action.

Cultural Capital

A term coined by sociologist Pierre Bourdieu referring to non-financial social assets, like education, intellect, style of speech, or dress, that can promote social mobility.

Economic Capital

Financial assets and resources that an individual or organization possesses, which can be used to generate wealth or facilitate production.