Multiple Choice
Given the following supply and demand curves for six-packs of beer, a price of $8.00 would produce:
Demand Q = 31,000 - 2000P
Supply Q = 10,000 + 1500P
A) equilibrium.
B) a shortage of 7,000 six-packs of beer.
C) a surplus of 7,000 six-packs of beer.
D) a shortage of 15,000 six-packs of beer.
E) a surplus of 22,000 six-packs of beer.
Correct Answer:

Verified
Correct Answer:
Verified
Q8: The quantity supplied of a good or
Q9: In managerial problem solving, the time period
Q10: The approach to problem solving in a
Q11: In managerial problem solving, the time period
Q12: Equilibrium price is the prevailing market price
Q14: To be an efficient producer, a business
Q15: A change in the quantity demanded refers
Q16: Managerial economics is one of the three
Q17: Opportunity cost is the cost as measured
Q18: Given the following supply and demand curves