If a technological advance lowers production costs such that the quantity supplied increases by 60 units of this product at each price, the new equilibrium price would be

$12

Explanation:

Please find attached the table used in answering this question

Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.

Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied

When 60 is added to 190, it becomes 250. here quantity supplied equal quantity demanded. Thus, the equilibrium price is $12

When 60 is added to 100, it becomes 160. this is less than 295.At a price of $10, there is a shortage

When 60 is added to 265, it becomes 325. this is greater than quantity demanded - 135. at the price of $15, there is a surplus

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

Iwould say the answer is 4.