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Use the Table Below to Answer the Following Questions

Question 99

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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.Simultaneously, the cost of production rises, and supply decreases by 100 heaters at each price.The new equilibrium price is $_______ and the new equilibrium quantity is _______ heaters per month. A) 60; 300 B) 50; 350 C) 50; 450 D) 70; 350 E) 70; 450
-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.Simultaneously, the cost of production rises, and supply decreases by 100 heaters at each price.The new equilibrium price is $_______ and the new equilibrium quantity is _______ heaters per month.


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

Correct Answer:

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