Suppose you own a store that sells computers. You have determined that the demand function for your computers is Qd = D(P) = 900 - 3P. At what price would you sell the computers if you wanted to sell 60 of them?
A. $250
B. $275
C. $280
D. $300
C. $280
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Describe the two major categories of public assistance
What will be an ideal response?
In the short run, a decrease in the market demand will cause a perfectly competitive firm to ________ production and ________.
A) decrease; earn economic profit B) increase; incur economic losses C) decrease; incur economic losses D) increase; earn economic profit
Which of the following is a positive question?
A. Is society better off if we restrict trade with other countries? B. Should we increase taxes on the rich or the middle class? C. Will an increase in the minimum wage cause more unemployment for teenagers? D. Should the government provide health care?
An increase in demand will induce entry by firms in the long run.
Answer the following statement true (T) or false (F)