If a demand curve and a supply curve can be stated functionally as Qd = 500 - 0.1P and Qs = 440 +
0.4P, respectively, then the equilibrium quantity and price (Q, P) would be
A) 150; 485.
B) 488; 120
C) 940; 0.4.
D) 50; 176.
E) 150; 150.
Correct Answer:
Verified
Q42: Cars and gasoline are likely to be
A)independent
Q43: An important assumption underlying a demand schedule
Q44: Suppose that in Montreal in December, 2009,
Q49: The demand for a given commodity will
Q56: Four of the five statements below contain
Q62: Which statement best describes the "law of
Q78: The table below displays hypothetical demand
Q78: A change in demand is said to
Q79: Q85: ![]()
![]()
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents