Suppose the domestic supply (QS) and demand (QD) for MP3 players in the United States is represented by the following set of equations:QS = -25 + 10PQD = 875 - 5PIf the United States can import MP3 players from the rest of the world at a per unit price of $50, what will be the total demand for MP3 players in the United States?
A. 475
B. 925
C. 550
D. 625
Answer: D
You might also like to view...
Use the following table to answer the question below.OutputTotal Cost0$10102020283038405350736098The marginal cost associated with the production of the fortieth unit of output is
A. $2.50. B. $9.80. C. $1.50. D. $1.00.
A coincident indicator will change before a recession begins
a. True b. False Indicate whether the statement is true or false
"In the two-good, two-country model with increasing costs, the output quantities are determined only by considering society's preferences as illustrated with community indifference curves. However, in the same model, it is possible to determine the post-trade consumption point in each country without indifference curves." Are these statements true, false, or partly true and partly false? Justify your answer.
What will be an ideal response?
What is meant by the term "marginal change"?
What will be an ideal response?