When P = $5,the Quantity Demanded of a Good Is

question 26

Multiple Choice

When P = $5,the quantity demanded of a good is 30 units,and the quantity supplied of the good is 50 units.For every $1 decrease in the price of this good,quantity demanded rises by 5 units and quantity supplied falls by 5 units.The equilibrium price of this good is ___________and the equilibrium quantity of this good is _________ units.

• A)$3;40
• B)$4;35
• C)$2;45
• D)$2;35
• E)$3;35

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Definitions:

Reflexes

Automatic and involuntary responses of the body to specific stimuli, designed to protect the body and maintain homeostasis.

Nipple

A small projection on the surface of the breast through which milk is delivered.

Cheek

The part of the face that is below the eye and to the side of the nose and mouth.

Adolescents

Young people in the transitional stage from childhood to adulthood, typically between the ages of 13 and 19.