The Economy and You Answers

The figure above shows a store’s supply-demand graph for lawn chairs. If the store makes $800 by selling lawn chairs, which of the following is a possible valid price for them? a. $50 b. $40 c. $25 d. $20 Please select the best answer from the choices provided

The graph above shows one store’s projected demand curve for garden gnomes. If the demand at point P1 is fully satisfied, how much money will the store make through garden gnome sales? a. $600 b. $550 c. $150 d. $55 Please select the best answer from the choices provided

Say that the economy is in a recession, causing vehicle prices to drop by eight percent. If your car was previously worth $25,295, what is it worth now, to the nearest dollar?a.$23,851b.$23,421c.$23,271d.$22,133

A store’s supply/demand graph for ceiling fans is shown above. If the price is at the equilibrium point, how much money will the store make selling ceiling fans? a. $4,500 b. $1,800 c. $1,200 d. $900 Please select the best answer from the choices provided

Based on the demand graph and the supply graph shown above, what is the price at the point of equilibrium? a. 100 b. 70 c. 40 d. There is not enough information given to determine the point of equilibrium. Please select the best answer from the choices provided

Below are the demand and supply equations for overhead projectors in a certain market. In these equations, p represents price, D represents demand, and S represents supply. What is S at the point of equilibrium, to the nearest whole number? a. 12 b. 15 c. 58 d. 67 Please select the best answer from the choices provided

Which of the following terms best applies to a reversal of economic output which occurs just before a period of new economic growth?a.boomb.expansionc.recoveryd.recession

Using the above supply/demand graph, what is the price at the point of equilibrium? a. 105 b. 100 c. 95 d. 80 Please select the best answer from the choices provided