A Firm's Demand Equation Is Given By: Q = 60

question 27

Multiple Choice

A firm's demand equation is given by: Q = 60 - 60P + 2Y,where Q is quantity,P is price,and Y is income.If price increases by $2 and income increases by $80,then quantity demanded will:

• A)increase by 160 units.
• B)increase by 100 units.
• C)decrease by 120 units.
• D)decrease by 40 units.
• E)decrease by 60 units.

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Definitions:

Five-Factor Theory

A model proposing five core dimensions, namely openness, conscientiousness, extraversion, agreeableness, and neuroticism, as the structure of human personality.

Openness to Experience

One of the five personality traits of the Big Five personality theory, involving the appreciation for adventure, curiosity, and a range of experiences.

Agreeableness

A personality trait characterized by compassion, cooperativeness, and a desire to avoid conflict, part of the Big Five personality model.

Neuroticism

A personality trait characterized by a long-term tendency to experience negative emotional states, including anxiety, fear, moodiness, worry, envy, frustration, jealousy, and loneliness.