Table 4.2.2. -Look at Table 4.2.2. Consumers Learn That the Rubber Ducks

question 213

Multiple Choice

Table 4.2.2.
-Look at Table 4.2.2. Consumers learn that the rubber ducks wear out batteries quickly. As a result, demand decreases by 100 rubber ducks at each price. At the same time, input prices rise and supply decreases by 100 rubber ducks at each price. The new equilibrium price is $________ and the new equilibrium quantity is ________ rubber ducks.

• A) 70; 450
• B) 70; 350
• C) 50; 450
• D) 50; 350
• E) 60; 300

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Definitions:

Sales

The transactions involving the exchange of goods or services for money, representing a key revenue source for most businesses.

Indirect Costs

Expenses related to operations that are not directly tied to a specific product or service, such as overhead or administrative expenses.

Cost Of Goods Manufactured

The total production cost of goods that are completed during a specific accounting period, including materials, labor, and overhead.

Cost Of Goods Manufactured

The total expense incurred by a company to produce goods during a specific period, including labor, material, and overhead costs.