Use the Following Information to Answer the Following Questions

question 134

Multiple Choice

Use the following information to answer the following questions.
Market for flat-screen TVs:
Demand: Q_d = 2,600 - 5P
Supply: Q_s = -1,000 + 10P
-What would be the quantity demanded if a price floor is set at $300?

• A) 900
• B) 200
• C) 240
• D) 1,100
• E) 2,000

---

Definitions:

Granite Quarry

A site where granite is extracted from the earth for use in construction and architectural applications.

Depletion Expense

The allocation of the cost of natural resources over their useful life.

Accumulated Depletion

The total amount of value that has been accounted for as a reduction in the value of a natural resource due to its extraction or usage.

Depletion Expense

An accounting approach to allocate the cost of extracting natural resources, such as minerals or timber, over the period those resources are consumed.