Multiple Choice
Suppose the market demand for TV remotes is given by the equation Qd = 100 - 2P,where P is the price and Qd is the number of TV remotes.If the market price of TV remotes is $40,then the quantity demanded equals _____ and the value of consumer surplus is _____.
A) 20;$100
B) 100;$20
C) 40;$200
D) 2;$40
Correct Answer:
Verified
Correct Answer:
Verified
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