Suppose There Are 100 Consumers in the Computer Speaker Market

question 51

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 quantity in the computer speaker market is ____.

• A) 40
• B) 100
• C) 300
• D) 600

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Definitions:

Hearing

The sense by which sound is perceived, involving the detection of vibrations and their interpretation by the brain.

Nearsightedness

A vision condition in which close objects are seen clearly, but objects farther away appear blurred.

Retina

The light-sensitive layer of tissue at the back of the inner eye, which contains photoreceptor cells that capture light and convert it into electrical signals for the brain to interpret as images.

Nociceptors

Nociceptors are sensory receptors that respond to potentially harmful stimuli by sending nerve signals to the spinal cord and brain, which is interpreted as pain.