​Find the Market Equilibrium Point for the Following Demand and Supply

question 118

Multiple Choice

​Find the market equilibrium point for the following demand and supply functions below,where p is price per unit and q is the number of units produced and sold. Demand: Supply:

• A) ​ ,
• B) ​​ ,
• C) ​ ,
• D) ​ ,
• E) ​ ,

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Definitions:

Operations

The day-to-day activities required for continued business functioning, focusing on creating and delivering products or services.

Predetermined Overhead Rate

A rate used to apply manufacturing overhead cost to products, calculated before the manufacturing process begins based on estimated costs.

Overapplied Overhead

A situation where the allocated overhead costs exceed the actual overhead expenses incurred.

Machine-Hours

A unit of measure indicating the total time production machinery is operated, used in calculating manufacturing costs and efficiencies.