At a Price of $4

question 131

Multiple Choice

At a price of $4.00, the total quantity demanded of a product is 95,000 units and the competitive fringe produces 15,000 units. What is the dominant firm's residual demand at a price of $4.00?

• A)80,000
• B)110,000
• C)90,000
• D)15,000

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Definitions:

Exchange

The process by which parties trade goods, services, or financial instruments, facilitating the transfer of ownership and value.

Tomatoes

A versatile fruit commonly treated as a vegetable in culinary uses, known for its red color and variety of shapes and sizes, important in many cuisines worldwide.

Pumpkin

A large, round, orange vegetable that is commonly grown as a food source and used as decoration, especially during Halloween and Thanksgiving.

Opportunity Cost

Opportunity cost refers to the benefit that is missed or given up when choosing one alternative over another.