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-The Above Table Shows the Demand Schedule and Supply Schedule

Question 67

Multiple Choice

-The above table shows the demand schedule and supply schedule for almond oil. An increase in consumers' income results in an increase in the demand for almond oil by an amount of 3 litres at every price. What are the new equilibrium quantity and equilibrium price? A) 5 litres, $4.00 per litre B) 5 litres, $5.00 per litre C) 4 litres, $5.00 per litre D) 5 litres, $6.00 per litre
-The above table shows the demand schedule and supply schedule for almond oil. An increase in consumers' income results in an increase in the demand for almond oil by an amount of 3 litres at every price. What are the new equilibrium quantity and equilibrium price?


A) 5 litres, $4.00 per litre
B) 5 litres, $5.00 per litre
C) 4 litres, $5.00 per litre
D) 5 litres, $6.00 per litre

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