Demand is given by QD = 620 - 10•P and supply is given by QS = 100 + 3•P. What is the price and quantity when the market is in equilibrium?
a. The price will be $30 and the quantity will be 132 units.
b. The price will be $11 and the quantity will be 122 units.
c. The price will be $40 and the quantity will be 220 units.
d. The price will be $35 and the quantity will be 137 units
e. The price will be $10 and the quantity will be 420 units.
c
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According to marginal analysis, you should spend more time studying economics if the extra benefit from an additional hour of study
a. is positive. b. outweighs the extra cost. c. exceeds the benefits of the previous hour of study. d. will raise your exam score.
Assume that foreign capital flows into a nation rise due to expected increases in stock market appreciation. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the real GDP and reserves account in the context of the Three-Sector-Model? a. Real GDP rises and reserves account becomes more negative (or less positive)
b. Real GDP falls and reserves account remains the same. c. Real GDP and reserves account remain the same. d. Real GDP rises and reserves account remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
Some time ago, the nation of Republica opened up its paper market to international trade. Which of the following results of this policy change is consistent with the notion that Republica has a comparative advantage over other countries in producing paper?
a. The price of paper in Republica decreased as a result of the policy change. b. Republica began exporting paper as a result of the policy change. c. The domestic demand curve for paper shifted to the right as a result of the policy change. d. The domestic quantity of paper demanded increased as a result of the policy change.
Which of the following is most likely to increase the incentive to invest, produce, and employ others?
What will be an ideal response?