The Demand for Commodity X Is Represented by the Equation

question 86

Multiple Choice

The demand for commodity X is represented by the equation P = 10 - 0.2Q and supply by the equation P = 2 + 0.2Q.
-Refer to the above information.The equilibrium price for X is:

• A) $2
• B) $4
• C) $6
• D) $7

---

Definitions:

Online Experiments

Research studies conducted over the internet, allowing for the collection of data from a broad geographic distribution of participants.

Diffusion

The method in which a new idea is shared across specific channels over a period among individuals within a social structure.

Internal Validity

The extent to which a research study accurately establishes a cause-effect relationship between the treatment and the observed outcome, minimizing the confounding variables.

Random Assignment

A method used in experiments where participants are allocated to different groups purely by chance, minimizing bias and equalizing other variables.