If a Demand Curve and a Supply Curve Can Be

question 86

Multiple Choice

If a demand curve and a supply curve can be stated functionally as Q_d = 100 - 5P; and Q_s = 90 + 5P,respectively,then the equilibrium quantity and price (Q,P) would be

• A)95; 1.
• B)1; 95.
• C)190; 1.
• D)95; 10.
• E)190; 10.

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Definitions:

Fast Fashion

A term used to describe clothing designs that move quickly from the catwalk to stores to meet new trends.

Seasonal Output

Variation in the production or supply of certain products or services that is caused by changes in the season.

Short-Term Demand Forecasts

Predictions about future customer demand over a short period, usually up to one year, critical for successful inventory and production planning.

JIT

Just-In-Time, a production strategy that aims to reduce times within the production system as well as response times from suppliers and to customers.