The following table shows the demand and supply schedule for a few consumers and a few producers. Assuming that they are the only consumers and producers in the economy, answer the following question. Quantity Demanded Price Jenny John Bob Market $10.00 2 4 0 $8.00 5 8 3 $6.00 9 l3 6 $4.00 14 16 9 Quantity Supplied What is the equilibrium price and quantity in this economy? 0 Not enougdl information given to answer the question. P\" = $10.00 and Q* =19 P\" = $8.00 and Q* =16 000 P" : $6.00 and Q* : 28 \fWhich of the following statements is true regarding depreciation? O Depreciation represents the loss of productivity of the factors of production. 0 Depreciation represents the wasted capital in the production process. 0 Depreciation represents the net investment. 0 Depreciation represents the wearing out of the capital in the production process. Suppose that the price of cereal increased from $4.00 per box to $4.05 per box1 whereas the rate of ination is 3%. Which of the following statements is true? The relative price of cereal is increasing at a slower rate compared to the average price level and people selling cereal would be worse off. 0 O The relative price of cereal is increasing at a faster rate compared to the average price level and people selling cereal would be better 013'. O The relative price of cereal is increasing at a faster rate compared to the average price level and people selling cereal would be worse off. 0 The relative price of cereal is increasing at a slower rate compared to the average price level and people selling cereal would be better off. Which of the following is not one of the three core economic issues that must be resolved? 0 How to produce the goods and services we select. What to produce with Limited resources. 0 0 What to produce with unlimited resources. 0 Who should get the goods and services we produce