For the Demand Equation Where X Represents the Quantity

question 33

Multiple Choice

For the demand equation where x represents the quantity demanded in units of a thousand and p is the unit price in dollars, determine the quantity demanded when the unit price is set at $6.

• A) x = 9,000 units
• B) x = 4,500 units
• C) x = 90 units
• D) x = 3,000 units
• E) x = 900 units

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Definitions:

Opportunities

Refer to situations where individuals or organizations can exploit conditions to achieve goals or positive outcomes.

Efficient

The most efficient employment of resources to attain the intended result while minimizing waste or exertion.

Better Off

A situation where an individual or group is in a more favorable or advantageous position than before.

Economic Efficiency

A condition in which all available resources are utilized in a way that produces the highest combination of quantity and quality of goods and services.