A Competitive Market with Demand Q = 120 - 4P

question 26

Multiple Choice

A competitive market with demand Q = 120 - 4P and supply Q = -30 + 2P is in equilibrium.If government imposes a price floor of 26,what quantity will be traded on the market?

• A) 28.
• B) 16.
• C) 20.
• D) 22.
• E) None of the above.

Comprehend the principles of differential analysis and its advantages in decision-making.

Recognize the criteria for measuring objectives in quantitative terms in decision-making.

Distinguish between objectives, constraints, and opportunity costs in conflict resolution during decision-making.

Identify the characteristics of relevant information, including the impact on future costs or revenues and the importance of timeliness.