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

---

Definitions:

Illusory Correlation

is the perception of a relationship between two variables even when no such relationship exists.

Premonition

A strong feeling that something is about to happen, especially something unpleasant.

Random Assignment

Assigning participants to experimental and control groups by chance, thus minimizing preexisting differences between those assigned to the different groups.

Illusory Correlation

A cognitive bias in which a relationship between two variables is perceived to exist when in fact there is none or it is much weaker than assumed.