If P = Q/15 Represents Market Supply for a Competitive

question 160

Multiple Choice

If P = Q/15 represents market supply for a competitive industry and market demand is given by Q_d = 500 - 10P, the equilibrium quantity is:

• A) 150.
• B) 187.5.
• C) 250.
• D) 300.

---

Definitions:

Service Life

The expected lifetime or duration of use of a product or component under normal operating conditions.

Retreading Cost

The expense associated with the process of replacing the tread on worn tires, a common practice for extending the life of vehicle tires.

Drive Axle Tires

Tires specifically designed to be mounted on the drive axle of a vehicle, providing traction that propels the vehicle forward.

Chassis Data Bus

A communication system within a vehicle that allows the transfer of data between electronic control units (ECUs) and components located throughout the vehicle.