Solved

Suppose Demand for a Good Is QD = 100 -

Question 47

Multiple Choice

Suppose demand for a good is QD = 100 - P and supply is QS = -20 + P.Suppose that a nationwide quota (of 20) is enforced so that more can be used in a war effort.What is the price?


A) 20
B) 40
C) 60
D) 80

Correct Answer:

verifed

Verified

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

Related Questions

Q37: If quantity supplied is either greater or

Q38: Who benefit(s)from protectionism?<br>A)Consumers<br>B)Domestic producers<br>C)No one<br>D)Both consumers and

Q39: Suppose there are 100 firms each with

Q40: Firms in long-run equilibrium in a perfectly

Q41: If the market for hula-hoops is characterized

Q42: Quotas that limit the quantity of imports

Q43: When a quota/trade barrier is instituted,the loss

Q44: Suppose domestic beef producers face demand of

Q45: Positive economic profits exist for a firm

Q46: Suppose a chemical company is in