Suppose the Market Demand for TV Remotes Is Given by the Equation

question 130

Multiple Choice

Suppose the market demand for TV remotes is given by the equation Q_d = 100 - 2P,where P is the price and Q_d is the number of TV remotes.If the market price of TV remotes is $40,then the quantity demanded equals _____ and the value of consumer surplus is _____.

• A)20;$100
• B)100;$20
• C)40;$200
• D)2;$40

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