The Demand Function for X Is D(p)= 65 - 2p

question 35

Multiple Choice

The demand function for x is D(p) = 65 - 2p and the supply function is S(p) = 20 + p.The price that should be set to restrict the quantity supplied to 30 units is closest to

• A)$5.
• B)$10.
• C)$15.
• D)$50.
• E)$55.

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Definitions:

Imports

Goods or services brought into one country from another for the purpose of trade or sale.

Cournot Duopolists

A market structure in which two companies assume the other's output to be constant when determining their optimal production levels.

Total Costs

The total of all expenses involved in creating goods or services, encompassing both constant and fluctuating costs.

Daily Profit

The net financial gain or loss a business experiences on a daily basis.