Suppose Demand for a Good Is Q_D = 100 -

question 41

Multiple Choice

Suppose demand for a good is Q_D = 100 - P and supply is Q_S = -20 + P.Suppose that a nationwide quota (of 20) is enforced so that more can be used in a war effort.What is the consumer surplus?

• A) 200
• B) 400
• C) 600
• D) 800

---

Definitions:

Past Three Years

A time frame referring to the last three consecutive years leading up to the current date.

Age Group

A classification of people based on their age, often used in research and marketing to target specific demographic segments.

Over 45

Referring to individuals or entities that are more than 45 years old or to quantities greater than 45 in number.

Probability Assignment Rule

A principle that assigns probabilities to outcomes of a random experiment, ensuring the sum of the probabilities equals one.