A Manager Uses the Equation Y = 40,000 + 150x

question 17

Multiple Choice

A manager uses the equation y = 40,000 + 150x to predict monthly receipts. What is the forecast for July if x = 0 in April?

• A) 40,450
• B) 40,600
• C) 42,100
• D) 42,250
• E) 42,400

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Definitions:

Equilibrium

A state where supply equals demand in a market, resulting in no inherent force for price change.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded, also known as the market-clearing price.

Shortage

A scenario in which the need for a product surpasses the amount available at a particular price.

Quantity Demanded

The total amount of goods or services that consumers are willing and able to purchase at a given price level in a given period.