A demand function is Qd = 55 - 3P, when price is €10, quantity demanded is

(a) 10.
(b) 25.
(c) Zero.
(d) We need more information to answer.


Ans: (b) 25.

Economics

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The failure of majority rule to produce transitive preferences for society is called the

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Return on investment is calculated as:

a) the amount invested divided by earnings. b) the amount invested divided by the interest rate. c) earnings divided by the amount invested. d) earnings divided by the interest rate.

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Explain two different ways to determine the profit-maximizing level of output for a firm in a perfectly competitive market

What will be an ideal response?

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