The Demand for Shoes in a Country Is Given by D

question 43

Multiple Choice

The demand for shoes in a country is given by D = 60 - 0.5P,where P is the price of a pair of shoes.Supply by domestic producers is given by S = 20 + 0.5P.The world price of a pair of shoes equals $30.In equilibrium,when this economy is closed to trade,the quantity of shoes demanded domestically equals _________,and when this economy opens to trade,the quantity of shoes demanded domestically equals _________.

• A) 40;35
• B) 40;45
• C) 35;40
• D) 45;40
• E) 45;35

---

Definitions:

Demeanor

The outward behavior or bearing of a person, indicating their character or mood.

One-way Mirror

A piece of glass that is a mirror on one side but can be seen through like a window from the other, often used in psychological research or police lineups.

Positively Correlated

A relationship between two variables where an increase in one variable is associated with an increase in the other.

Average Daily Temperature

The mean temperature calculated by averaging the highest and lowest temperatures recorded in a 24-hour period.