The Number of Wrenches That Can Be Produced at a Given

question 60

Multiple Choice

The number of wrenches that can be produced at a given price can be predicted by the formula $s = \sqrt { 65 x }$ , where $s$ is the supply (in thousands) and $X$ is the price (in dollars) . If the demand $d$ for the wrenches can be predicted by the formula $d = \sqrt { 324 - 4 x ^ { 2 } }$ , find the equilibrium price.

• A)$6
• B)$5
• C)$4
• D)None of the above

Comprehend the concepts of derived demand and how it differs from final demand.

Understand the effects of complementary and substitute resources on productivity.

Differentiate between the substitution effect and the output effect and their impact on resource allocation.

Apply the principle of optimal resource mix in firm operation contexts.

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