What is the total market supply, Qs, for luxury sports cars in the United States if the only three suppliers inverse supply functions are P = -10 + 5Qs1, P = 20 + 5Qs2, P = 5Qs3?
A) P = 10 + 21Qs
B) Qs = -2 +P/15
C) Qs = 6 + P/15
D) Qs = -2 + P/15
B
Economics
You might also like to view...
The level of real GDP in the long run is called
A) frictional GDP. B) potential GDP. C) low-capacity GDP. D) short-run GDP.
Economics
If the economy is on the IS curve, but is to the right of the LM curve, aggregate output will ________ and the interest rate will ________
A) rise; rise B) rise; fall C) fall; rise D) fall; fall
Economics
_____ in the United States relative to GDP increased from 37 percent in 1994 to 40 percent in 2013
a. Interest rates b. Government outlays c. Government revenues d. Unemployment rates e. Government deficits
Economics
The market process is a
A) path to discovery. B) simple process. C) theoretical concept that reveals little useful information. D) none of these choices.
Economics