Price	Quantity Demanded	Quantity Supplied
$40.0	140	60
$42.5	130	70
$45.0	120	80
$47.5	110	90
$50.0	100	100
$52.5	90	110
$55.0	80	120
$57.0	70	130
$60.0	60	140

Refer to the above information to answer this question.Ifboththe quantity demanded and the amount supplied increase by 40 units - at the same timelines and rate,what will be the new values of equilibrium price and quantity? (hint ... how has equilibrium values changed?extra hint - how do we show MORE demanded at all prices .... and if supply reacts immediately to this what are the NEW numbers in the table?)

Select one:

a.The price will be $50 but equilibrium is not possible.

b.$60 and 140.

c.$50 and 140.

d.$60 and 100.

e.$40 and 140.

Clear my choice

Question14

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Price	Quantity Demanded	Quantity Supplied
$40.0	140	60
$42.5	130	70
$45.0	120	80
$47.5	110	90
$50.0	100	100
$52.5	90	110
$55.0	80	120
$57.0	70	130
$60.0	60	140

Refer to the above information to answer this question.If demand increases by 20 units, what will be -over the long term- the new values of equilibrium price and quantity?

(hint - take note that Supply will NOT shift out (change) but instead the market will find a new equilibrium balance via a combination of current supply capacity and the NEW demand line... )

*** Draw the traditional "X" and shift the demand line accordingly draw a horizontal line from the current equilibrium price to arrive at the point to start to draw a new demand line parallel to the old demand line ... the intercept on the supply curve is the new equilibrium combination

Select one:

a.$52.50 and 110.

b.$52.50 and 120.

c.$50 and 120.

d.$55 and 120.

e.$45 and 120.

Clear my choice

Question15

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Price	Quantity Demanded	Quantity Supplied
$40.0	140	60
$42.5	130	70
$45.0	120	80
$47.5	110	90
$50.0	100	100
$52.5	90	110
$55.0	80	120
$57.0	70	130
$60.0	60	140

Refer to the above information to answer this question.If supply increases by 40 units,what will be the new values of equilibrium price and quantity?

(hint - take note that Demand will NOT shift (change) but instead the market will find a new equilibrium balance via a combination of current demand capacity and the NEW supply line... )

*** Draw the traditional "X" and shift the supply line accordingly draw a horizontal line from the current equilibrium price to arrive at the point to start to draw a new supply line parallel to the old Supply line ... the intercept on the demand curve is the new equilibrium combination

Select one:

a.$60 and 140.

b.$40 and 140.

c.$45 and 120.

d.$60 and 120.

e.$50 and 140.

Clear my choice

Question16

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Price	Quantity Demanded	Quantity Supplied 1
$40.0	140	60
$42.5	130	70
$45.0	120	80
$47.5	110	90
$50.0	100	100
$52.5	90	110
$55.0	80	120
$57.0	70	130
$60.0	60	140

Refer to the above information to answer this question.What are the equilibrium values of price and quantity?

Select one:

a.$50 and 100.

b.$52.50 and 100.

c.$40 and 140.

d.$40 and 60.

e.$55 and 120.

Clear my choice

Question17

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Price	Quantity Demanded	Quantity Supplied 1
$40.0	140	60
$42.5	130	70
$45.0	120	80
$47.5	110	90
$50.0	100	100
$52.5	90	110
$55.0	80	120
$57.0	70	130
$60.0	60	140

Refer to the above information to answer this question. What is trueif price is $45?

Select one:

a.The quantity demanded is 80.

b.The quantity supplied is 200.

c.Price will soon fall.

d.There is a shortage of 40.

e.There is a surplus of 40.

Clear my choice

Question18

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Price	Quantity Demanded	Quantity Supplied
$40.0	140	60
$42.5	130	70
$45.0	120	80
$47.5	110	90
$50.0	100	100
$52.5	90	110
$55.0	80	120
$57.0	70	130
$60.0	60	140

Refer to the above information to answer this question. What is trueif price rise to $52.50?

Select one:

a.Price will soon rise.

b.The quantity demanded is 90.

c.There is a surplus of 110.

d.There is a shortage of 40.

e.The quantity supplied is 90.