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

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