Suppose That the Demand Curve for Brown Rice Is Given

question 127

Multiple Choice

Suppose that the demand curve for brown rice is given by P= 50,000 - 3Q², and supply is P = -10,000 + 3Q². The equilibrium price is ____ and the equilibrium quantity is ____.

• A) $110,000; 200
• B) $20,000; 100
• C) $100; 20,000
• D) $2,000; 1,000

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Definitions:

Dynamic Environment

Contexts that are constantly changing and require organizations or individuals to adapt rapidly to new challenges.

Stable Environment

An environment characterized by predictability, minimal change, and relatively constant conditions.

Organizational Change

The process through which a company or institution undergoes a transition to achieve a desired future state.

Failure

The lack of success in achieving a goal or performing up to a standard; the opposite of success.