In the Market for Good X, Demand Is Q^D =

question 15

Multiple Choice

In the market for good X, demand is Q^D = 6,000 - 0.8P and supply is Q^S = 0.4P - 300. What is the equilibrium quantity?

• A) 1,200
• B) 1,800
• C) 4,800
• D) 5,250
• Indicate one or more answer choices that best complete the statement or answer the question.

---

Definitions:

Durbin-Watson Statistic

A quantitative method utilized for detecting autocorrelation in the residuals resulting from regression analysis.

Critical Values

Specific points on the scale of a test statistic beyond which we reject the null hypothesis in hypothesis testing.

Autocorrelation

The correlation of a signal with a delayed copy of itself, often used to analyze functions or series of values, like time series data.

Test Statistic

A value, derived from sample data, used in a hypothesis test to determine whether to reject the null hypothesis.