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Scenario 5.1 The Demand for Noodles Is Given by the Following Equation

Question 2

Multiple Choice

Scenario 5.1
The demand for noodles is given by the following equation: Q = 20 - 4P + 0.2I - 2Px. Assume that P = $8, I = 200, and Px = $10.
-To economists, feelings such as peace, serenity, religious devotion, and self-esteem are captured in the concept known as _____.


A) rational self-interest
B) utility
C) profit
D) total revenue
E) surplus

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