Suppose the Market Demand for Good X Is Given by Q_X^d

question 34

Multiple Choice

Suppose the market demand for good X is given by Q_X^d = 20 − 2P_X.If the equilibrium price of X is $5 per unit,then consumers' expenditure on X is:

• A) $5.
• B) $25.
• C) $50.
• D) This cannot be determined from the information contained in the question.

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Definitions:

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