If Qs = -20 + 10p, and Qd = 400

question 108

Multiple Choice

If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium price?

• A)14
• B)42
• C)12.67
• D)38

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Definitions:

Equilibrium

A state of balance or stability within a system, where competing forces or influences are in equal opposition.

Nonprobability Sample

There is little or no attempt to get a representative cross-section of a population.

Availability Of Participants

The extent to which potential research subjects or participants are accessible or willing to take part in a study.

Nonprobability Sample

A sampling method where not all members of the population have a chance of being selected, often leading to potential biases.