The Demand for Commodity X Is Represented by the Equation

question 203

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.If demand changes from P = 10 - .2Q to P = 7 - .3Q,we can conclude that:

• A) demand has increased.
• B) demand has declined.
• C) supply will increase.
• D) supply will decrease.

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Definitions:

Capitalization

The process of using uppercase letters at the beginning of sentences and proper nouns, or the total value of a company's outstanding shares.

Numbers Use

The application or utilization of figures and numerical data in analysis, calculations, or statistical studies.

1/3rd

A fractional value representing one part out of three equal parts of a whole.

Misused Word(s)

Words that are incorrectly used in place of others, often compromising the clarity and correctness of communication.