The amount of pizzas that consumers want to buy per week is reflected in the equation P = 15 - .02Q d , where Q d is the amount of pizzas purchased per week and P is the price of pizzas. On the basis of this information we can say that:

A. if pizzas were free, people would consume 800 per week.
B. more pizzas will be purchased at a high price than at a low price.
C. if the price of pizzas is $6, then 150 will be purchased.
D. 50 fewer pizzas will be purchased per week for every $1 increase in price.


Answer: D

Economics

You might also like to view...

For a business, opportunity cost measures

A) only the cost of labor and materials. B) only the implicit costs of the business. C) the cost of all the factors of production the firm employs. D) only the explicit costs the firm must pay. E) all of the firm's costs including its normal profit and its economic profit.

Economics

Refer to Figure 5-6. What is the deadweight loss resulting from producing at the market equilibrium?

A) B + C B) F C) E + C D) C

Economics

When employment discrimination results from the personal prejudices of employers, economic theory suggests that

a. employers who discriminate will have lower production costs. b. the wages of employees who are discriminated against will rise. c. employers who discriminate will have the same production costs as those who do not discriminate. d. employers who discriminate will have lower profits.

Economics

Disinflation is

A. a decrease in inflation rates. B. an increase in inflation rates. C. an increase in prices. D. a decrease in prices.

Economics