Suppose Market Demand and Supply Are Given by Q^d =

question 118

Multiple Choice

Suppose market demand and supply are given by Q^d = 100 - 2P and Q^S = 5 + 3P. If the government sets a price floor of $30 and agrees to purchase all surplus at $30 per unit, the total cost to the government will be:

• A) $1,650.
• B) $1,375.
• C) $900.
• D) $1,125.

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Definitions:

Visual Impairment

A condition characterized by the partial or complete loss of vision, which cannot be corrected with standard eyeglasses or contact lenses.

Presbyopia

A common age-related condition in which the eye gradually loses the ability to focus on nearby objects, typically starting around middle age.

Thickening

The process of making a liquid denser or more viscous by adding a substance, often used in cooking or in industrial processes.

Vaginal Walls

The muscular and membranous inner layers of the vagina, which can stretch and contract.