Two Runners Leave the Starting Gate, One Running 13 Mph

question 87

Multiple Choice

Two runners leave the starting gate, one running 13 mph and the other 10 mph. If they maintain the pace, how long will it take for them to be one-quarter of a mile apart?

• A) 12
• C) 3

---

Definitions:

Equilibrium Price

The price point at which the quantity of goods supplied equals the quantity of goods demanded, leading to a stable market condition.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Equilibrium Price

The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in market balance and no excess supply or demand.

Equilibrium Quantity

The quantity of goods or services supplied equals the quantity demanded at the market equilibrium price.