Table 4-1 Use this table for the following questions. Quantity Quantity Price Demanded Supplied $10 1,000 5,500 2,000 5,000 3,000 4,500 4,000 4,000 5,000 3,500 6,000 3,000 -NWAVANO 7,000 2,500 8,000 2,000 9,000 1,500 10,000 1,000 10. Refer to Table 4-1. What is the equilibrium price in the example above? a. $9 b. $8 C. $7 d. $6 e. $5 1 1.A rational decision is one that a. satisfies all desires. avoids the intentional allocation of resources. C. assigns available resources in the manner most preferred by decision makers. d. assigns available resources to the uses with the lowest opportunity costs. 12. The economic problem of scarcity a. is unique to a capitalist economy. b. requires that choices be made among alternatives. c. disappears as technology advances. d. affects only less-developed countries. 13.Economics is generally concerned with a. the operation of banks and the stock market. b. business management. c. how resources are allocated among alternative goals. d. the right time to start a business. (3