When the Price of a Good Is $65,the Quantity Demanded

question 46

Multiple Choice

When the price of a good is $65,the quantity demanded of a good is 80 units,and the quantity supplied of the good is 40 units.For every $10 increase in the price of this good,quantity demanded falls by 10 units and quantity supplied rises by 10 units.The equilibrium price of this good is ___________and the equilibrium quantity of this good is _________ units.

• A) $55; 30
• B) $75; 50
• C) $75; 70
• D) $85; 50
• E) $85; 60

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Definitions:

Total Return

The overall return on an investment over a specific time period, including both capital gains and dividends or interest, expressed as a percentage of the investment's initial cost.

Real Rate

The interest rate adjusted for inflation, reflecting the true return on an investment over time.

Dividend

A portion of a company's earnings that is distributed to shareholders, usually in the form of cash payments or additional shares.

Geometric Average

A method of calculating the average rate of return that accounts for compounding by taking the nth root (where n is the count of numbers) of the product of the values.