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Use the Table Below to Answer the Following Questions

Question 165

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 the cost of production rises and supply decreases by 100 units at each price.The new equilibrium price is $ _______and equilibrium quantity is _______ units. A) 70; 350 B) 50; 350 C) 60; 400 D) 70; 450 E) 50; 450
-Refer to Table 3.5.1.Suppose the cost of production rises and supply decreases by 100 units at each price.The new equilibrium price is $ _______and equilibrium quantity is _______ units.


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

Correct Answer:

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