If the Price of Chewing Gum Is Represented by Equation

question 405

Multiple Choice

If the price of chewing gum is represented by equation P = 25 - 0.5 QD, then the corresponding quantity of chewing gum demanded is represented by the equation

• A) QD = 2P - 0.5.
• B) QD = 0.5P + 25.
• C) QD = 50 - 2P.
• D) QD = -5 + 10P.

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Definitions:

Negotiation

The process of discussing and arriving at a mutual agreement between parties.

Ambiguous

Open to more than one interpretation; not having one obvious meaning.

Indorsement

The act of signing one's name on the back of a check or other negotiable instrument for the purpose of transferring ownership or authorizing its use by someone else.

Payable to Order

A financial term indicating that a payment should be made to a specific individual or entity whose name appears on the document.