The Demand Curve Is P = 700 - 20Q_D

question 17

Multiple Choice

The demand curve is P = 700 - 20Q_D.The supply curve is P = 300 + 20Q_S.At market equilibrium, the equilibrium quantity is _______ and the equilibrium price is _______ .

• A)20; 0.10
• B)400; 40
• C)500; 10
• D)10; 500
• E)0.10; 20

---

Definitions:

Customers Served

The number of clients or customers a business has provided products or services to within a specific time period.

Flexible Budget

A budget that adjusts or flexes with changes in volumes or activity levels, allowing for more accurate budgeting and performance evaluation.

Variable Cost Estimates

Projections or assessments of costs that change in proportion with the level of production or activity in a business.

Facility Expenses

Costs associated with the physical space a business uses, including rent, utilities, and maintenance.