The Demand for Cars in a Certain Country Is Given

question 149

Multiple Choice

The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5. If this economy is open to trade, and the world price of a car is $6,000, and the government imposes a quota allowing 3,000 cars to be imported, then domestic price of the car will be ________.

• A)$5,000
• B)$6,000
• C)$8,000
• D)$10,000

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Definitions:

Critical Thinking

The process of actively analyzing, synthesizing, and evaluating information gathered from observation, experience, reflection, or communication.

Confidence

The feeling or belief that one can rely on someone or something; self-assurance arising from one's appreciation of one's own abilities or qualities.

Clinical Decision Making

The process by which healthcare providers assess and consider various factors and evidence to make informed patient care decisions.

Decubitus Ulcer

A pressure sore or ulcer that forms on the skin due to prolonged pressure, commonly occurring in bedridden or immobile individuals.