Suppose Demand Is Given by Q^d = 400 - 15P

question 32

Multiple Choice

Suppose demand is given by Q^d = 400 - 15P+ I,where Q^d is quantity demanded,P is price and I is income.Supply is given by Q^s = 5P,where Q^s is quantity supplied.When I = 200,equilibrium quantity is

• A) 15
• B) 20
• C) 25
• D) 30

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Definitions:

Investment Turnover

A measure of a company's efficiency in using its assets to generate sales revenue, calculated by dividing sales by the average total assets.

Profit Margin

A financial metric that measures the percentage of revenue that exceeds the cost of goods sold, indicating the profitability of a company's sales.

Return on Investment

A measure of the profitability of an investment, calculated as the net gain or loss of the investment divided by its initial cost.

Departmental Contribution

The amount of income earned by a specific department after direct costs associated with the department have been subtracted.