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Use the table below to answer the following questions. Table 3.5.3 Demand and supply schedules for designer sport t-shirts at ISoolU Price Quantity Supplied Quantity
Use the table below to answer the following questions. Table 3.5.3 Demand and supply schedules for designer sport t-shirts at ISoolU Price Quantity Supplied Quantity Demanded dollars er t-shirt t-shirts er month t-shirts er month 3 150 300 4 160 280 5 170 260 6 180 240 7 190 220 8 200 200 9 210 180 10 220 160 11 230 140 12 240 120 15. Refer to Table 3.5.3. A new store opens up on the edge of campus, Great Wild North Sportswear, which has the capacity to do as much business as all the existing businesses. The quantity of t-shirts supplied doubles at each price. In addition, in a television interview, Joe Cool shows off his designer sport t-shirt, setting off a new craze that doubles business at the local sportswear establishments. The quantity of t-shirts demanded doubles at each price. The new equilibrium price is $ and the new equilibrium quantity is t-shirts per month. A) 8; 400 B) 8; 200 C) 3; 400 D) 12; 240 E) 16; 400
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