Multiple Choice
Use the table below to answer the following questions.
Table 3.5.3
-Refer to Table 3.5.3.In a television interview, Joe Cool shows off his designer sport t- shirt, setting off a new craze that doubles business at the sportswear establishments.The quantity of t- shirts demanded doubles at each price.The new equilibrium price is $_______ and the new equilibrium quantity is _______ t- shirts per month.
A) 12; 120
B) 16; 200
C) 8; 400
D) 16; 400
E) 12; 240
Correct Answer:

Verified
Correct Answer:
Verified
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