The Following Are the Equations for the Supply and Demand

question 310

Multiple Choice

The following are the equations for the supply and demand curves in the market for weezils:
where Q _d is the quantity demanded, Q _s is the quantity supplied, and P is the price per weezil in dollars.
Refer to Exhibit 4-1. According to the data given, the equilibrium price of a weezil is

• A)$3.
• B)$5.
• C)$11.
• D)$14.

---

Definitions:

Helpline Costs

Expenses incurred in the operation of a support service for customers, such as salaries for help desk staff and telecommunication charges.

Calls

Financial instruments giving the holder the right to buy a stock or commodity at a specified price within a specific time period.

Variable Costs

Expenses that vary directly with the level of production or output.

Variable Cost

Expenses that change in direct proportion to the amount of business or production activity.