Multiple Choice
(Advanced analysis) Answer the question on the basis of the following information.The demand for commodity X is represented by the equation P = 100 - 2Q and supply by the equation P = 10 + 4Q. Refer to the given information.If demand changed from P = 100 - 2Q to P = 130 - Q,the new equilibrium price is:
A) $90.
B) $110.
C) $96.
D) $106.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Allocative efficiency refers to<br>A) the use of
Q33: In moving along a demand curve,which of
Q35: If products C and D are close
Q88: There will be a surplus of a
Q112: A price floor means that<br>A)inflation is severe
Q120: Camille's Creations and Julia's Jewels both sell
Q161: Economists use the term "demand" to refer
Q181: In constructing a demand curve for product
Q266: By an "increase in demand," economists mean
Q287: Digital cameras and memory cards are<br>A) substitute