For Questions Refer to the Following Information:
a $$P = 24 - 0.0004 Q _ { d }$$

question 5

Multiple Choice

For Questions refer to the following information:
A municipal water utility employs quasi-fixed capital inputs-are the water treatment plant and distribution lines to homes-to supply water to 20,000 households in the community it serves. The figure below shows the cost structure of this utility for various levels of water service. Quantity of water consumption is measured in 1,000-gallon units per month. AQFC is the average quasi-fixed cost curve, and LAC is long-run average cost. Long-run marginal cost, LMC, is constant and equal to $4 per 1,000-gallon unit. The inverse demand equation is $$P = 24 - 0.0004 Q _ { d }$$ .
-The value in blank d in the figure is ____.

• A) 6.50
• B) 7.50
• C) 8.00
• D) 9.50
• E) none of the above

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Definitions:

Cluttered/Crowded Nest

A situation in which adult children continue living at their parents' home, leading to a household that is more crowded than the typical family unit.

Multigenerational

Involving or affecting several generations within a family or community, often with respect to living arrangements or workplace dynamics.

Blended

Combining different elements, materials, or qualities, often to achieve a specific effect or quality.

Empty Nest

The stage in parents' lives when their children have grown up and left home to start their own adult lives, often leading to new freedoms and adjustments.