For the Pair of Supply-And-Demand Equations, Where X Represents the Quantity

question 2

Multiple Choice

For the pair of supply-and-demand equations, where x represents the quantity demanded in units of 1,000 and p is the unit price in dollars, find the equilibrium quantity and the equilibrium price. p = - 2x + 15 and p = 5x + 1

• A) equilibrium quantity 4,000 units; equilibrium price $9
• B) equilibrium quantity 4,000 units; equilibrium price $11
• C) equilibrium quantity 2,000 units; equilibrium price $9
• D) equilibrium quantity 2,000 units; equilibrium price $11

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Definitions:

Complete Lack

The total absence of a certain element, quality, or substance.

Executive Function

Higher-order, complex cognitive processes, including thinking, planning, and problem solving.

Subconscious Awareness

Mental processes carrying out below the level of conscious thought, influencing feelings, actions, and thoughts unknowingly.

Controlled Processes

Mental activities requiring focused attention that generally interfere with the ability to conduct other processes simultaneously.