In Economics, Total Quantity Sold Is the Product of the Price

question 52

Multiple Choice

In economics, total quantity sold is the product of the price and the demand. Find the total quantity, Q. $$\text { Price } = 4 x + 12 \quad \text { Demand } = \frac { 600 } { x ^ { 2 } + 3 x }$$ Assume there are no zero denominators.

• A) \(Q = \frac { 600 } { x }\)
• B) \(Q = \frac { x } { 2,400 }\)
• C) \(Q = \frac { 2,400 } { x }\)
• D) \(Q = \frac { x + 3 } { 2,400 }\)
• E) \(Q = \frac { 2,400 } { x + 4 }\)

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Definitions:

Authority

The power or right to give orders, make decisions, and enforce obedience, seen in contexts ranging from legal to organizational structures.

Deceased Principals

Deceased principals involve situations in agency relationships where the principal has passed away, affecting the continuation or validity of agreements made with agents.

Agency

A relationship where one party, the agent, is authorized to act on behalf of another, the principal, in dealings with third parties.

Necessity

The condition or situation of being required or indispensable, often invoked in legal contexts where actions are taken out of an unavoidable need.