Solved

The Following Are the Equations for the Supply and Demand

Question 269

Multiple Choice

The following are the equations for the supply and demand curves in the market for weezils: The following are the equations for the supply and demand curves in the market for weezils: where Q <sub> d </sub> is the quantity demanded, Q <sub> s </sub> is the quantity supplied, and P is the price per weezil in dollars. Refer to Exhibit 4-1. If consumers decide that they want 20 percent fewer weezils at every price, the equation for the new demand curve for weezils will be A) Q <sub> d </sub> = 20 − 1.6P. B) Q <sub> d </sub> = 0.2(20 − 2P) . C) Q <sub> d </sub> = 0.8(20 − 2P) . D) Q <sub> d </sub> = 80(20 − 2P) . The following are the equations for the supply and demand curves in the market for weezils: where Q <sub> d </sub> is the quantity demanded, Q <sub> s </sub> is the quantity supplied, and P is the price per weezil in dollars. Refer to Exhibit 4-1. If consumers decide that they want 20 percent fewer weezils at every price, the equation for the new demand curve for weezils will be A) Q <sub> d </sub> = 20 − 1.6P. B) Q <sub> d </sub> = 0.2(20 − 2P) . C) Q <sub> d </sub> = 0.8(20 − 2P) . D) Q <sub> d </sub> = 80(20 − 2P) . where Q d is the quantity demanded, Q s is the quantity supplied, and P is the price per weezil in dollars. Refer to Exhibit 4-1. If consumers decide that they want 20 percent fewer weezils at every price, the equation for the new demand curve for weezils will be


A) Q d = 20 − 1.6P.
B) Q d = 0.2(20 − 2P) .
C) Q d = 0.8(20 − 2P) .
D) Q d = 80(20 − 2P) .

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q16: The price of natural gas fell and

Q55: In the 1990s, Congress considered an agriculture

Q104: Figure 4-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 4-4

Q114: Consumer income changes can shift market demand.

Q160: Suppose that in a free market, 2,000

Q161: An individual's demand schedule<br>A)provides information about what

Q230: A surplus occurs when price is higher

Q250: Rent controls are most often designed to

Q270: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX9029/.jpg" alt=" Refer to Table

Q294: A price ceiling is only effective if