Consider the following schedule to find where the equilibrium occur. Where does real GDP supplied and equilibrium price level occur?
Current Price Level Real GDP-quantity demanded Real GDP-quantity supplied
per trillion per trillion
610 17.8 17.8
500 15.5 19.0
478 12.0 21.7
785 20.0 13.0

Abbington company has a manufacturing facility in brooklyn that manufactures robotic equipment for the auto industry. for year 1, abbingtonabbington collected the following information from its main production line: actual quantity purchased-200 units, actual quantity used-110 units, units standard quantity-100 units, actual price paid-$8 per unit, standard price-$10 per unit. atlantic isolates price variances at the time of purchase. what is the materials price variance for year 1? 1. $400 favorable. 2. $400 unfavorable. 3. $220 favorable. 4. $220 unfavorable.