Use the Following Information to Answer the Following Questions

question 105

Multiple Choice

Use the following information to answer the following questions.
Market for used cars:
Demand: Q_d = 154,000 - 86P
Supply: Q_s = -100 + 14P
-What would be the quantity supplied if a price floor is set at $100?

• A) 100
• B) 154,100
• C) 1,541
• D) 21,474
• E) 1,300

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Definitions:

Self-Interest

The driving force behind individual actions motivated by personal gain, benefits, or fulfillment.

Voluntary Basis

Actions taken or services provided out of free will without compulsory means or expecting financial compensation.

Parliamentary Democracies

A system of government in which a constitution outlines the separation of political power into branches, the ministers are chosen by the parliament (legislative branch).

Presidential Democracies

A system of government in which a constitution outlines the separation of political power into branches, the president (executive branch) is most often elected directly in a presidential vote