$Q _ { d } = 100 - 5 P + 0.004 M - 5 P _ { R }$

question 34

Multiple Choice

$Q _ { d } = 100 - 5 P + 0.004 M - 5 P _ { R }$ ,where P is the price of good X, M is income, and $P _ { R }$ is the price of a related good, R.
-If M = $50,000 and $P _ { R }$ = $10 and the supply function is $Q _ { s } = 150 + 5 P$ , market price and output are, respectively,

• A) P = $12 and Q = 150.
• B) P = $10 and Q = 200.
• C) P = $12 and Q = 200.
• D) P = $15 and Q = 175.
• E) P = $15 and Q = 225.

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Definitions:

Pathological Societies

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Labor

Human effort, either physical or mental, applied in the production of goods and services.

Repressive Law

A type of law in traditional societies, as described by Durkheim, that focuses on punishing offenders to maintain collective order rather than rehabilitating them.

Mechanical Solidarity

A concept in sociology that describes the integration of members of a society who have common values and beliefs that create a sense of unity and cooperation.