The Table Below Gives the Quantity of a Product Demanded

question 71

Multiple Choice

The table below gives the quantity of a product demanded and the quantity supplied for various prices. Solve the
problem.
-Find the linear equation that gives the price as a function of the quantity supplied. $\begin{array}{l|l|l}\text { Price (dollars) } & \text { Quantity Demanded } & \text { Quantity Supplied } \\\hline 100 & 700 & 0 \\120 & 660 & 80 \\140 & 620 & 160 \\160 & 580 & 240 \\180 & 540 & 320\end{array}$

• A) \(p = 4 q + 100\)
• B) \(\mathrm { p } = - \frac { 1 } { 2 } \mathrm { q } + 450\)
• C) \(p = \frac { 1 } { 2 } q + 100\)
• D) \(p = \frac { 1 } { 4 } q + 100\)

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Definitions:

Accurate

A description of information, data, or measurements that are correct and free from errors or inaccuracies.

Test-Retest

To determine the reliability of a measure by testing and retesting it under the same conditions. If the measure is reliable, it will produce similar results each time.

Inter-Item Reliability

A measure of whether the individual questions in a question set are consistent in their results. See also internal reliability.

Semantic Differential-Format

A type of survey question format that uses a scale allowing respondents to rate an object, concept, or event within the range of two bipolar adjectives.