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cng cng
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A year ago

The table below displays hypothetical demand and supply schedules for the market for overnight parcel deliveries in Canada.

Short description: A table with three main columns and six rows. Long description: The main column headers read, price in dollars, quantity demanded in millions, and quantity supplied in millions. The second and third columns have two sub-columns, each. The sub-column headers read, year 1 and year 2 for each main column. The table infers the following data. Row 1: 30, 80, 95, 140, and 125; Row 2: 26, 90, 105, 135, and 120; Row 3: 22, 100, 115, 130, and 115; Row 4: 18, 110, 125, 125, and 110; Row 5: 14, 120, 135, 120, and 105; Row 6: 10, 130, 145, 115, and 100.

TABLE 3-4

Refer to Table 3-4. Which of the following statements describes a likely event in the market for overnight parcel delivery? From Year 1 to Year 2,



▸ there was a decrease in consumers' income.

▸ the number of suppliers of overnight parcel delivery service increased.

▸ the price of regular parcel delivery decreased.

▸ there was a rise in the price of jet fuel.

▸ there was an improvement in technology for tracking overnight parcels.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
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david200095367david200095367
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