Exhibit 4-7 Demand and supply schedules for movie tickets
Price
QuantityDemanded
QuantitySupplied
$10
200
500
8
240
470
6
370
420
4
390
390
2
410
310
In Exhibit 4-7, a 100 unit decrease in quantity demanded at every price level would cause the new equilibrium price to become:
A. $8.
B. $6.
C. $4.
D. $2.
Answer: D
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