Question: Use the table below to answer the following questions. Table 3.5.3 Demand and supply schedules for designer sport t-shirts at ISoolU Price Quantity Supplied Quantity

 Use the table below to answer the following questions. Table 3.5.3

Use the table below to answer the following questions. Table 3.5.3 Demand and supply schedules for designer sport t-shirts at ISoolU Price Quantity Supplied Quantity Demanded dollars er t-shirt t-shirts er month t-shirts er month 3 150 300 4 160 280 5 170 260 6 180 240 7 190 220 8 200 200 9 210 180 10 220 160 11 230 140 12 240 120 15. Refer to Table 3.5.3. A new store opens up on the edge of campus, Great Wild North Sportswear, which has the capacity to do as much business as all the existing businesses. The quantity of t-shirts supplied doubles at each price. In addition, in a television interview, Joe Cool shows off his designer sport t-shirt, setting off a new craze that doubles business at the local sportswear establishments. The quantity of t-shirts demanded doubles at each price. The new equilibrium price is $ and the new equilibrium quantity is t-shirts per month. A) 8; 400 B) 8; 200 C) 3; 400 D) 12; 240 E) 16; 400

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