The value of the vertical intercept is $150 and the slope is ?25 in a linear equation for price and quantity demanded. If price is $5.00, what is the quantity demanded? State the linear equation and show how you found the answer
Please provide the best answer for the statement.
The linear equation is quantity demanded = $150 ? 25(price). Therefore: 25 = $100 ? 15 ($5.00).
You might also like to view...
In the presence of a negative externality, a specific tax can achieve the social optimum because
A) output is reduced to zero as a result. B) it internalizes the external cost. C) it directly charges the producer for polluting. D) the price of the good rises by the full amount of the tax.
Empirical studies that suggest differences in utilization rates between fee-for-service and managed care plans
a. are unreliable due to statistical biases. b. conclude that financial incentives are not the reason for differences in the amount of care physician provide. c. show no differences in health status among patient groups. d. are unable to differentiate between the impacts due to financial incentives and those due to clinical rules.
U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance
a. True b. False Indicate whether the statement is true or false
The law of demand states that the quantity demanded of a good is inversely related to the price of that good. Therefore, as the price of a good goes:
A. down, the quantity demanded stays the same. B. up, the quantity demanded goes down. C. up, the quantity demanded also goes up. D. down, the quantity demanded goes down.