Consider the Following Demand and Supply Curves: Q^d = 100

question 64

Multiple Choice

Consider the following demand and supply curves: Q^d = 100 - 2P,and Q^s = ½ P,calculate the equilibrium P and Q for this initial situation and assuming the demand curve changes to Q^s = 100 - P.Which of the following is correct?

• A) the initial equilibrium is P = 40, Q = 20 and the demand curve shifts left.
• B) the initial equilibrium is P = 40, Q = 20 and the new equilibrium is P = 36, Q = 28.
• C) the initial equilibrium is P = 40, Q = 20 and the new equilibrium is P = 66 2/3 and Q = 33 1/3.
• D) the initial equilibrium is P = 40, Q = 20 and the demand curve shifts right.

---

Definitions:

Aging

The process of becoming older, characterized by gradual deterioration of physical and cognitive function over time.

Life Span

The duration of time from an organism's birth to its death, encompassing all stages of its life.

Diagnosis-Related Groups (DRGs)

A system to classify hospital cases into one of originally 467 groups, intended to encourage cost efficiency while maintaining quality of care.

Hospital

A hospital is a healthcare institution providing patient treatment with specialized medical and nursing staff and medical equipment.