To Find the Number of Units That Gives Break-Even for the Product

question 75

Multiple Choice

To find the number of units that gives break-even for the product, solve the equation R $$\mathbf { R } = \mathbf { C }$$ ound your answer to the
nearest whole unit.
-A certain product has supply and demand functions given b $$\text { by } p = 3 q + 21 \text { and } p = 164 - 8 q$$ , respectively, where p is the price in dollars and q is the quantity supplied or demanded at price p. What price gives market
Equilibrium?

• A) $60
• B) $13
• C) $39
• D) $18

Differentiate between short-run and long-run outcomes in monopolistic markets.

Apply economic concepts to interpret graphical representations of market conditions in monopolistic and oligopolistic markets.

Explain the concept of rent-seeking behavior in the context of market protection granted by the government.

Understand the implications of marginal cost pricing versus average cost pricing for regulated monopolies.

---

Definitions:

Southwest

A geographic region in the United States, typically including states such as Arizona, New Mexico, Texas, and parts of Oklahoma and California, known for its unique culture and desert landscapes.

Ethnic Group

An ethnic group is a category of people who identify with each other based on common ancestral, social, cultural, or national experiences.

19th Century

The 19th Century denotes the period from January 1, 1801, to December 31, 1900, characterized by industrial, cultural, and political change globally.

Service Industries

Sectors of the economy that provide intangible goods or services to consumers, such as healthcare, education, and finance.