Use the Following Information to Answer the Following Questions

question 105

Multiple Choice

Use the following information to answer the following questions.
Market for used cars:
Demand: Q_d = 154,000 - 86P
Supply: Q_s = -100 + 14P
-What would be the quantity supplied if a price floor is set at $100?

• A) 100
• B) 154,100
• C) 1,541
• D) 21,474
• E) 1,300

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Definitions:

Zone Price

The price based on geographic location or zone of customers.

Shipping Point

A location from which goods are dispatched or shipped to the buyer, often used to determine shipping costs and responsibility for the goods during transit.

Customer's Location

The geographical position or address of a customer, which can be important in logistics, service provision, and marketing strategies.

One-Time Price Reduction

A temporary reduction in the price of a product or service, offered only once as an incentive.