The Demand Curve Is P = 800 - 25Q_D

question 113

Multiple Choice

The demand curve is P = 800 - 25Q_D.The supply curve is P = 500 + 25Q_S.At market equilibrium,the equilibrium quantity is ________ and the equilibrium price is ________.

• A)25;0.17
• B)650;6.0
• C)0.17;25
• D)6.0;650
• E)1,300;zero

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Definitions:

Post Hoc

Short for post hoc ergo propter hoc, a logical fallacy implying that since one event follows another, the first event must be the cause of the second.

Fallacy

A deceptive, misleading, or false notion or argument, often used in the context of logical reasoning or debate.

Occurred

An event or action that took place or happened, usually at a specific time and place.

False Alternative

A logical fallacy that presents a limited set of options when, in fact, more options exist.