Suppose Demand Is Given By $\mathrm { Q } ^ { \mathrm { d } } = 400 - 15 \mathrm { P } + \mathrm { I }$

question 4

Multiple Choice

Suppose demand is given by $\mathrm { Q } ^ { \mathrm { d } } = 400 - 15 \mathrm { P } + \mathrm { I }$ , where $\mathrm { Q } ^ { \mathrm { d } }$ is quantity demanded, $\mathrm { P }$ is price and $\mathrm { I }$ is income. Supply is given by $Q ^ { s } = 5 P$ , where $Q ^ { s }$ is quantity supplied. When $I = 200$ , equilibrium price is

• A) 15
• B) 20
• C) 25
• D) 30

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Definitions:

Widows

Women who have lost their spouses through death and have not remarried.

Widowers

Males who are widowed and have not entered into another marriage.

Congenial Siblings

Brothers and sisters who share a close, friendly, and amicable relationship, often characterized by mutual support and understanding.

Family Bonds

Emotional connections and ties among family members that are formed through shared experiences, love, support, and understanding.