At a Price of $2

question 63

Multiple Choice

At a price of $2.00, the total quantity demanded of a product is 30,000 units and the competitive fringe produces 12,000 units. What is the dominant firm's residual demand at a price of $2.00?

• A)42,000
• B)12,000
• C)18,000
• D)30,000

---

Definitions:

Negotiability

The quality of a financial instrument that allows it to be transferred from one party to another with minimal legal restrictions.

Sum Certain

A specified, fixed amount of money that is agreed upon in a financial or legal document, leaving no ambiguity regarding the amount.

Requirements

Specific criteria or conditions that must be met in order to fulfill an agreement or complete a project.

Bearer Instrument

A bearer instrument is a type of document that allows the holder to claim the rights or assets it represents without endorsing or proving ownership.