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Use the Table Below to Answer the Following Questions

Question 114

Multiple Choice

Use the table below to answer the following questions.
Use the table below to answer the following questions. -Refer to Table 3.5.1.Suppose a problem develops with car- seat heaters - they malfunction and occasionally cause serious burns.As a result, demand decreases by 100 heaters at each price.The new equilibrium price is $_______ and the new equilibrium quantity is _______ heaters per month. A) 70; 350 B) 50; 450 C) 70; 450 D) 60; 400 E) 50; 350
-Refer to Table 3.5.1.Suppose a problem develops with car- seat heaters - they malfunction and occasionally cause serious burns.As a result, demand decreases by 100 heaters at each price.The new equilibrium price is $_______ and the new equilibrium quantity is _______ heaters per month.


A) 70; 350
B) 50; 450
C) 70; 450
D) 60; 400
E) 50; 350

Correct Answer:

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