Suppose There Are 100 Consumers in the Computer Speaker Market

question 78

Multiple Choice

Suppose there are 100 consumers in the computer speaker market, each with an identical demand curve given by Q_i = 10 - 0.1P, where P is the price per pair of speakers and Q_i measures the quantity demanded of computer speakers by each person. The market supply for computer speakers is given by Q^S = 20P - 200. The equilibrium price in the computer speaker market is $____.

• A) 40
• B) 100
• C) 300
• D) 600

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Definitions:

Other Items

This term can refer to various non-primary or exceptional items in financial reporting, including extraordinary gains or losses and items of other comprehensive income.

Prepaid Expenses

Expenses paid in advance for goods or services to be received in the future.

Insurance Expense

The cost associated with purchasing insurance to protect against various risks, recorded as an expense.