Use the following information to answer the following questions.
Market for flat-screen TVs:
Demand: Q d = 2,600 - 5P
Supply: Q s = -1,000 + 10P
-What would be the quantity demanded if a price ceiling is set at $150?
A) 500
B) 1,850
C) 240
D) 1,350
E) 260

Question

Quizplus · Accepted Answer

At a price ceiling of $150, substitute P = 150 into the demand equation: QS1U1B1dS1U1B0 = 2,600 - 5(150) = 2,600 - 750 = 1,850.

Use the Following Information to Answer the Following Questions