Use the Following Demand and Supply Functions: Demand $Q _ { d } = 900 - 60 p$

question 56

Multiple Choice

Use the following demand and supply functions: Demand: $Q _ { d } = 900 - 60 p$ Supply: $Q _ { s } = - 200 + 50 \mathrm { P }$ Equilibrium price and output are

• A)P = $7 and Q = 480.
• B)P = $10 and Q = 300.
• C)P = $20 and Q = 150.
• D)P = $100 and Q = 5,300.

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Definitions:

Minimum Sufficiency

The lowest level of effort or input required to achieve a desired outcome or effect.

Internalization

The process by which children adopt adults’ standards and rules as their own.

Power Assertion

A disciplinary method involving the use of authority or physical force to control or correct behavior.