If a Demand Curve and a Supply Curve Can Be

question 7

Multiple Choice

If a demand curve and a supply curve can be stated functionally as Qd = 100 - 5P; and Qs = 90 + 5P,respectively,then the equilibrium quantity and price (Q,P) would be

• A)95; 1.
• B)1; 95.
• C)190; 1.
• D)95; 10.
• E)190; 10.

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Definitions:

Quorum

The minimum number of members required to be present at a meeting to lawfully conduct business.

United States Supreme Court

The highest federal court of the United States, which has ultimate jurisdiction over all federal and state court cases involving matters of federal law.

Justices

Judges serving on a court, especially the higher courts such as the Supreme Court.

Deposition

A sworn, out-of-court testimony by a witness or party in a legal case, usually recorded for later use in court.