When P = $65,the Quantity Demanded of a Good Is

question 116

Multiple Choice

When P = $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:

Unique Needs

Specific requirements or preferences that vary among individuals or groups.

Bona Fide Occupational Requirements

Legitimate requirements for a job that are necessary for its performance, even if they exclude certain individuals.

Discriminate

To unjustly differentiate or make distinctions among individuals or groups, often based on characteristics such as race, gender, age, or sexuality.

Visible Minorities

Individuals of a specific ethnic or racial background that is different from the majority population.