### Table: Demand and Supply Data| Price per Unit | Column A (Units per year) | Column B (Units per year) ||----------------|--------------------------|--------------------------|| $20 | 100 | 40 || $30 | 95 | 50 || $40 | 80 | 60 || $50 | 65 | 70 || $60 | 50 | 80 |### AnalysisThe table above shows the number of units per year at various price points for two columns, likely representing demand (Column A) and supply (Column B). As price increases, demand decreases, while supply increases, following typical economic principles.At a market price of $30:- Demand (Column A) is 95 units per year.- Supply (Column B) is 50 units per year.### QuestionGiven this data, if the current market price is $30, then you would expect:- ○ the market price to rise.- ○ the quantity supplied to decrease.- ○ the market price to fall.- ○ supply to increase.### ExplanationAt a price of $30, demand exceeds supply (95 units vs. 50 units). Typically, this situation would lead to an upward pressure on price as buyers compete for limited goods, eventually causing the market price to rise.

A market refers to a physical or virtual place where a seller and a buyer interact to make an…

Price per Unit $20 $30 $40 $50 $60 Column A (Units per year) 100 95 80 65 50 the market price to rise. Column B (Units per year) the market price to fall. 40 supply to increase. 50 60 Refer to the figure above. Suppose the columns in this table reflect demand and supply. If the current market price is $30, then you would expect: 70 80 the quantity supplied to decrease.

Price per Unit $20 $30 $40 $50 $60 Column A (Units per year) 100 95 80 65 50 the market price to rise. Column B (Units per year) the market price to fall. 40 supply to increase. 50 60 Refer to the figure above. Suppose the columns in this table reflect demand and supply. If the current market price is $30, then you would expect: 70 80 the quantity supplied to decrease.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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