If demand is represented as Qd = 24 - P and supply is represented as Qs = 6 + 2P, the equilibrium quantity is
A. 3.
B. 6.
C. 10.
D. 18.
Answer: D
Economics
You might also like to view...
In the long run, total fixed cost equals zero
Indicate whether the statement is true or false
Economics
A movement along the demand curve might be caused by a change in a. income
b. the prices of substitutes or complements. c. expectations about future prices. d. the price of the good or service that is being demanded.
Economics
The base for the purchasing power parity adjustment of the GNI is the cost of living in the United States.
a. true b. false
Economics
A cost or benefit of a good imposed on people other than the consumers or producer of a good is called a(n):
A. public good. B. merit good. C. private good. D. externality.
Economics