The Demand for Microwaves in a Certain Country Is Given

question 10

Multiple Choice

The demand for microwaves in a certain country is given by: D = 8,000 - 30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, the domestic quantity demanded will be ________ and quantity supplied will be ________.

• A)5,000; 5,000
• B)6,000; 4,000
• C)6,500; 3,000
• D)6,500; 4,500

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Definitions:

Asian American

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